Description: The Michigan Consumer Protection Act includes provisions to protect consumers and investors from fraudulent business practices and deceptive trade practices in the financial markets.
Scope: It covers various financial and business transactions, providing protections to investors from fraud, deceptive advertising, and misrepresentation.
Description: The Michigan Business Corporation Act outlines the creation, governance, and regulation of corporations in Michigan, with a focus on ensuring accountability to investors.
Scope: It specifies the rights of shareholders and corporate officers, with an emphasis on protecting investors' interests in the management and operations of corporations.
Description: This law governs the activities of investment advisers in Michigan, requiring them to meet certain standards of conduct and maintain appropriate registrations.
Scope: Investment advisers are required to adhere to fiduciary duties, disclose conflicts of interest, and provide full transparency in their dealings with investors.
Description: Michigan allows businesses to raise capital through equity crowdfunding, making it easier for smaller companies to attract investment from local investors.
Scope: Michigan’s crowdfunding exemption permits securities offerings up to $1 million, similar to federal regulations under the JOBS Act, while ensuring necessary safeguards to protect investors.
Description: Michigan’s Blue Sky laws aim to protect investors by regulating securities transactions, preventing fraud, and ensuring transparency in securities offerings.
Scope: This law requires the registration of securities and the filing of disclosure documents unless an exemption applies. It also provides for the licensing of brokers and dealers.
Description: MUSA governs the sale and regulation of securities within Michigan, ensuring compliance with both state and federal securities regulations and protecting investors.
Scope: It mandates the registration of securities unless exempt, and it also sets out regulations for broker-dealers, investment advisers, and the protection of investors from fraudulent practices.
State-level exemptions allowing small-scale investment through crowdfunding.
Example: Michigan Invests Locally Exemption (MILE).
Overview:
Regulates financial services and securities markets to protect Michigan investors
Address:
530 W. Allegan Street, 7th Floor, Lansing, MI 48933
Specific Regulations:
Michigan Uniform Securities Act
Resources:
Investor resources to avoid financial fraud