State laws covering the issue and trading of securities. Bloomberg Financial Dictionary
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blue-sky laws UK US noun [plural] LAW, STOCK MARKET
► laws that exist in US states to prevent people from trading shares on the stock market in a dishonest way: »
Blue sky laws, so named because they focussed on the sale of issues that had the value of blue sky, related only to state-issued securities.
Financial and business terms. 2012.