Hawaii regulates securities under the Hawaii Uniform Securities Act, administered by the Securities Compliance Branch of the Department of Commerce and Consumer Affairs. Hawaii adopted the Uniform Securities Act and requires registration or exemption for all securities offered or sold in the state.
Hawaii requires registration by coordination, qualification, or notice filing for federal covered securities. Reg D Rule 506 offerings require Form D notice filing. Filing fee is $100, due within 15 days of first sale to a Hawaii investor.
Understanding the core regulatory framework in Hawaii:
Securities must be registered before offer or sale unless exempt under HRS Chapter 485A
Hawaii adopted the Uniform Securities Act (2002) with state modifications
Anti-fraud provisions prohibit material misrepresentation and deceptive practices
The Commissioner has authority to investigate, issue subpoenas, and bring enforcement actions
Hawaii provides the following exemptions from full securities registration:
Hawaii imposes civil penalties up to $10,000 per violation, criminal penalties including fines up to $5,000 and imprisonment up to 5 years, investor rescission rights, and administrative sanctions including cease-and-desist orders.
M&A transactions involving Hawaii-based companies or shareholders require blue sky compliance when stock consideration is involved. Hawaii's geographic isolation and unique economy require specific attention to investor residency. Acquisition Stars ensures proper notice filing for deals with Hawaii exposure.
Acquisition Stars handles blue sky compliance, M&A transactions, and securities offerings nationwide. Managing partner Alex Lubyansky provides direct counsel on every engagement.
Common questions about Hawaii blue sky laws and securities compliance
Our managing partner provides selective securities and M&A counsel for transactions involving Hawaii blue sky law compliance. Submit your transaction details for a preliminary assessment.
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