LA

Louisiana Blue Sky Laws

Louisiana regulates securities under the Louisiana Securities Law, enforced by the Securities Division of the Office of Financial Institutions. Louisiana maintains its own regulatory framework distinct from the Uniform Securities Act, reflecting the state's unique legal tradition.

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Donald Hateley, Of Counsel for securities law at Acquisition Stars

Donald Hateley

Of Counsel, Securities Law | Acquisition Stars

Donald Hateley serves as Of Counsel to Acquisition Stars for securities law matters. His background includes advising public and private companies on securities transactions, corporate finance, and corporate governance, including public and private equity and debt financings. Admitted to the California bar in 1993, he is a graduate of the University of Southern California Marshall School of Business and Southwestern Law School.

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Louisiana Securities Regulatory Overview

Regulatory Body
Louisiana Office of Financial Institutions, Securities Division
Primary Statute
Louisiana Securities Law (La. R.S. 51:701 et seq.)

Registration Requirements

Louisiana allows registration by coordination, qualification, or notification. Reg D Rule 506 offerings require Form D notice filing with the Securities Division. Filing fee is $300, due within 15 days of first sale to a Louisiana investor.

Key Provisions of Louisiana Securities Law

Understanding the core regulatory framework in Louisiana:

1

Securities must be registered before offer or sale in Louisiana unless an exemption applies

2

Louisiana maintains its own securities framework distinct from the Uniform Securities Act

3

Anti-fraud provisions prohibit material misrepresentation and manipulative practices

4

The Securities Division has authority to investigate, subpoena, and bring enforcement actions

Available Exemptions in Louisiana

Louisiana provides the following exemptions from full securities registration:

  • Federal covered securities (Reg D Rule 506, Reg A+ Tier 2, exchange-listed) with notice filing
  • Isolated nonissuer transactions
  • Sales to institutional investors (banks, insurance companies, pension funds)
  • Limited offering exemption for sales to no more than 25 persons in 12 months
  • Government and municipal securities

Penalties for Non-Compliance in Louisiana

Louisiana imposes civil penalties up to $5,000 per violation, criminal penalties including fines up to $10,000 and imprisonment up to 5 years, investor rescission rights, and administrative sanctions.

How Louisiana Blue Sky Laws Affect Your Transaction

Louisiana's energy and maritime sectors generate M&A activity. Transactions involving Louisiana-based shareholders require compliance when stock consideration is involved. Acquisition Stars works with securities counsel on Louisiana notice filings for multi-state transactions.

Need Help With a Louisiana Securities Transaction?

Acquisition Stars handles M&A transactions nationwide and works with securities counsel on blue sky compliance and securities offerings. Senior attorney Alex Lubyansky provides direct counsel on every M&A engagement. We tell you who would handle your matter before any introduction, and you decide whether to proceed.

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Need Help With a Louisiana Securities Transaction?

Submit your transaction details for a preliminary assessment. We help with the M&A side of the transaction and work with securities counsel on multi-state filings for Reg D, Reg A+, and Reg CF offerings involving Louisiana.

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Frequently Asked Questions

Common questions about Louisiana blue sky laws and securities compliance

What is Louisiana's Reg D filing fee?
Louisiana charges $300 for Reg D Rule 506 notice filings with the Office of Financial Institutions Securities Division.
Does Louisiana follow the Uniform Securities Act?
No. Louisiana maintains its own securities framework under La. R.S. 51:701 et seq., reflecting the state's distinct legal tradition.
Who enforces Louisiana securities laws?
The Securities Division of the Louisiana Office of Financial Institutions enforces Louisiana's securities laws.

Blue Sky Laws in Nearby States

Texas Blue Sky Laws TX
Mississippi Blue Sky Laws MS
Arkansas Blue Sky Laws AR
Alabama Blue Sky Laws AL
View all 50 state blue sky law guides →

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Need Help With Securities Compliance in Louisiana?

Our managing partner provides selective M&A counsel and works with securities counsel on transactions involving Louisiana blue sky law compliance. Submit your transaction details for a preliminary assessment.

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