Most white-collar securities crimes are prosecuted in United States federal courts. However, the Alabama Securities Commission, a division of the Alabama Attorney General’s Office, does prosecute some securities violations in the state courts of Alabama. The two most common charges brought by the Alabama Securities Commission are: the sale of unregistered securities, and sale of securities by an unregistered broker dealer. Subject to a few exceptions, individuals who offer securities for sale in the State of Alabama are governed by blue sky laws requiring most security offerings be registered with the Alabama Securities Commission. If these securities are not registered, their sale within the State is a felony called the “sale of unregistered securities.” Additionally, individuals offering securities for sale, must be registered with the Alabama Securities Commission (as well as other federal securities agencies) as a licensed broker and securities dealer. Failure to obtain your license and register leaves you open to prosecution for the felony “sale by an unregistered broker dealer” in the event you offer to sell any security. Our experienced Birmingham sale of unregistered security attorneys are experienced in analyzing these securities cases to answer important questions like:
- Does this product meet the legal definition of a security?
- Is this security offering subject to an exception to Alabama securities laws, such as sale to accredited investors?
- Did any “sale” take place, or was it merely an introduction to an investment opportunity?
- Was there ever any offering in the State of Alabama to give the Alabama Securities Commission and the Alabama courts jurisdiction over the matter?
If you are being investigated by the Alabama Attorney General, the District Attorney or the Alabama Securities Commission for the sale of unregistered securities or sale by an unauthorized broker dealer, contact our experienced Alabama securities defense attorneys to protect you. We will provide you an honest opinion of your case, and a vigorous defense. Call us today at 205-502-2000.