Blue Sky Solutions

Blue sky laws are U.S. state laws that regulate the offer and sale of securities to protect investors from fraud. In order for broker-dealers to be able to recommend, solicit or even discuss a security with investors in any of the 50 states or 4 U.S. territories, the security must comply with the blue sky laws of the state the investor resides in. Securities that are not listed on NASDAQ and NYSE do not have automatic “Blue Sky” exemption across the 50 states and additional U.S. territories.

Best Practices to Gain Compliance

  • Do a Blue Sky audit to understand where your company is compliance
  • Determine what other exemptions are available
  • Get listed in a corporate securities manual, such as S&P and Mergent, to take advantage of exemptions for SEC and non-SEC Reporting companies
  • For remaining states, assess where your company would like to gain compliance
  • Begin the process of complying with individual state laws

Blue Sky Solutions

Blue Sky Monitoring Service offers companies a customized daily audit of their Blue Sky compliance status in each U.S state or territory to help companies reach a larger pool of U.S. investors. Companies use this service to streamline their compliance process, receive guidance and information on available exemptions and registering in non-compliant states, and be informed with daily updates on which state brokers can or cannot discuss the security with investors.

  • Compliance information is updated on a daily basis and is the same information distributed to broker-dealers
  • Daily audit may be easily accessed through, a market intelligence and investor relations portal
  • Guidance on ways to maximize compliance through available exemptions

Blue Sky Filing Service helps companies to file registration documents for secondary trading where an exemption is unavailable.

  • Guidance: Consultation with states on the process of registering a security
  • Initial Filing: Completes forms and files required documents for the company
  • Renewals: Reminders of upcoming filing dates and completes the process for renewal of registration

Key Benefits

  • Reach More Investors – Blue Sky compliance is mandatory for the 280,000+ U.S. registered investment advisors to advise, discuss, or recommend a company’s stock to their investor clients
  • Eliminate Research Barrier – Many broker-dealers will not prepare research reports on companies that do not have widespread Blue Sky compliance
  • Streamline Compliance – Ongoing monitoring is provided through a complete analysis of a company’s state exemptions, reports on changes in state securities laws that effect Blue Sky, and advance reminders on state filing renewal deadlines

How to Subscribe

Please contact Corporate Services at or 212.896.4420 to subscribe.

Learn More

Get Started