{"id":30180,"date":"2023-12-07T09:01:48","date_gmt":"2023-12-07T09:01:48","guid":{"rendered":"https:\/\/masterskills.org\/blog\/luat-thien-thanh-blue-sky-law-trong-thi-truong-chung-khoan-my-la-gi.html"},"modified":"2023-12-23T06:12:17","modified_gmt":"2023-12-22T23:12:17","slug":"luat-thien-thanh-blue-sky-law-trong-thi-truong-chung-khoan-my-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/luat-thien-thanh-blue-sky-law-trong-thi-truong-chung-khoan-my-la-gi.html","title":{"rendered":"Lu\u1eadt thi\u00ean thanh (Blue Sky Law) trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n M\u1ef9 l\u00e0 g\u00ec?"},"content":{"rendered":"
\n
\n
<\/div>
\n

H\u00ecnh minh h\u1ecda. Ngu\u1ed3n: totlol.com<\/i><\/p>\n<\/figcaption><\/figure>\n

Lu\u1eadt thi\u00ean thanh<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Lu\u1eadt thi\u00ean thanh<\/b> ho\u1eb7c Lu\u1eadt b\u1ea3o v\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0\u00a0<\/b>trong ti\u1ebfng Anh l\u00e0 Blue Sky Law<\/b>.<\/p>\n

Lu\u1eadt thi\u00ean thanh<\/b> l\u00e0 c\u00e1c qui \u0111\u1ecbnh c\u1ee7a c\u00e1c ti\u1ec3u bang nh\u1eb1m b\u1ea3o v\u1ec7 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ed1ng l\u1ea1i gian l\u1eadn ch\u1ee9ng kho\u00e1n.<\/p>\n

C\u00e1c lu\u1eadt n\u00e0y c\u00f3 th\u1ec3 thay \u0111\u1ed5i theo ti\u1ec3u bang v\u00e0 th\u01b0\u1eddng y\u00eau c\u1ea7u ng\u01b0\u1eddi ph\u00e1t h\u00e0nh ch\u1ee9ng kho\u00e1n cung c\u1ea5p chi ti\u1ebft c\u00e1c v\u1ea5n \u0111\u1ec1 t\u00e0i ch\u00ednh v\u00e0 c\u00e1c b\u00ean li\u00ean quan trong \u0111\u1ee3t ph\u00e1t h\u00e0nh. Do \u0111\u00f3, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 r\u1ea5t nhi\u1ec1u th\u00f4ng tin c\u00f3 th\u1ec3 ki\u1ec3m ch\u1ee9ng \u0111\u01b0\u1ee3c d\u1ef1a tr\u00ean \u0111\u00f3 \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd.<\/p>\n

N\u1ed9i dung<\/font><\/h3>\n

Lu\u1eadt thi\u00ean thanh nh\u01b0 m\u1ed9t qui \u0111\u1ecbnh b\u1ed5 sung cho c\u00e1c qui \u0111\u1ecbnh ch\u1ee9ng kho\u00e1n Li\u00ean bang, nh\u01b0 c\u1ea5p gi\u1ea5y ph\u00e9p cho c\u00e1c c\u00f4ng ty m\u00f4i gi\u1edbi, c\u00e1c chuy\u00ean vi\u00ean t\u01b0 v\u1ea5n \u0111\u1ea7u t\u01b0 v\u00e0 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi c\u00e1 nh\u00e2n t\u1ea1i c\u00e1c bang c\u1ee7a h\u1ecd. Lu\u1eadt n\u00e0y y\u00eau c\u1ea7u c\u00e1c qu\u0129 \u0111\u1ea7u t\u01b0 t\u01b0 nh\u00e2n \u0111\u0103ng k\u00ed kh\u00f4ng ch\u1ec9 t\u1ea1i bang c\u1ee7a h\u1ecd m\u00e0 \u1edf m\u1ecdi ti\u1ec3u bang n\u01a1i h\u1ecd mu\u1ed1n kinh doanh.<\/p>\n

T\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh ch\u1ee9ng kho\u00e1n ph\u1ea3i c\u00f4ng b\u1ed1 c\u00e1c \u0111i\u1ec1u kho\u1ea3n c\u1ee7a \u0111\u1ee3t ch\u00e0o b\u00e1n, bao g\u1ed3m c\u00e1c th\u00f4ng tin quan tr\u1ecdng c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ch\u1ee9ng kho\u00e1n.<\/p>\n

M\u1ed7i khu v\u1ef1c c\u00f3 th\u1ec3 c\u00f3 c\u00e1c y\u00eau c\u1ea7u kh\u00e1c nhau trong vi\u1ec7c \u0111\u0103ng k\u00ed ph\u00e1t h\u00e0nh. Qu\u00e1 tr\u00ecnh n\u00e0y th\u01b0\u1eddng bao g\u1ed3m \u0111\u00e1nh gi\u00e1 c\u1ee7a c\u01a1 quan nh\u00e0 n\u01b0\u1edbc, xem vi\u1ec7c ph\u00e1t h\u00e0nh c\u00f3 c\u00f4ng b\u1eb1ng cho ng\u01b0\u1eddi mua hay kh\u00f4ng.<\/p>\n

C\u00e1c qui \u0111\u1ecbnh c\u1ee7a lu\u1eadt c\u0169ng t\u1ea1o ra tr\u00e1ch nhi\u1ec7m ph\u00e1p l\u00ed \u0111\u1ed1i v\u1edbi b\u1ea5t k\u00ec c\u00e1o bu\u1ed9c gian l\u1eadn ho\u1eb7c vi\u1ec7c kh\u00f4ng c\u00f4ng b\u1ed1 th\u00f4ng tin, cho ph\u00e9p c\u00e1c v\u1ee5 ki\u1ec7n v\u00e0 h\u00e0nh \u0111\u1ed9ng ph\u00e1p l\u00ed kh\u00e1c \u0111\u01b0\u1ee3c \u0111\u01b0a ra ch\u1ed1ng l\u1ea1i c\u00e1c t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh.<\/p>\n

M\u1ee5c \u0111\u00edch c\u1ee7a c\u00e1c lu\u1eadt n\u00e0y l\u00e0 \u0111\u1ec3 ng\u0103n ch\u1eb7n ng\u01b0\u1eddi b\u00e1n ki\u1ebfm l\u1ee3i t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 thi\u1ebfu kinh nghi\u1ec7m, thi\u1ebfu ki\u1ebfn th\u1ee9c v\u00e0 \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o c\u00f4ng b\u1eb1ng cho \u0111\u1ee3t ph\u00e1t h\u00e0nh ch\u1ee9ng kho\u00e1n m\u1edbi.<\/p>\n

Qu\u00e1 tr\u00ecnh h\u00ecnh th\u00e0nh<\/font><\/h3>\n

Thu\u1eadt ng\u1eef “Lu\u1eadt thi\u00ean thanh” \u0111\u01b0\u1ee3c cho l\u00e0 b\u1eaft ngu\u1ed3n t\u1eeb \u0111\u1ea7u nh\u1eefng n\u0103m 1900, \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i khi t\u00f2a \u00e1n t\u1ed1i cao Hoa K\u1ef3 (Kansas Supreme Court) tuy\u00ean b\u1ed1 mong mu\u1ed1n b\u1ea3o v\u1ec7 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u1ecfi d\u00f2ng v\u1ed1n \u0111\u1ea7u c\u01a1 m\u1ea1o hi\u1ec3m – “kh\u00f4ng c\u00f3 nhi\u1ec1u c\u01a1 s\u1edf h\u01a1n b\u1ea7u tr\u1eddi xanh”.<\/p>\n

Nh\u1eefng n\u0103m tr\u01b0\u1edbc 1929, nhi\u1ec1u c\u00f4ng ty \u0111\u00e3 ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu, th\u00fac \u0111\u1ea9y b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u00e0 c\u00e1c giao d\u1ecbch \u0111\u1ea7u t\u01b0 kh\u00e1c trong khi \u0111\u01b0a ra nh\u1eefng l\u1eddi h\u1ee9a kh\u00f4ng c\u00f3 c\u0103n c\u1ee9 v\u1ec1 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn. Kh\u00f4ng c\u00f3 \u1ee6y ban Ch\u1ee9ng kho\u00e1n v\u00e0 S\u00e0n giao d\u1ecbch M\u1ef9 (SEC), v\u00e0 r\u1ea5t \u00edt s\u1ef1 gi\u00e1m s\u00e1t theo qui \u0111\u1ecbnh c\u1ee7a ng\u00e0nh \u0111\u1ea7u t\u01b0 v\u00e0 t\u00e0i ch\u00ednh.<\/p>\n

Trong m\u1ed9t s\u1ed1 tr\u01b0\u1eddng h\u1ee3p, nh\u1eefng y\u1ebfu t\u1ed1 gian l\u1eadn \u0111\u01b0\u1ee3c gi\u1ea5u \u0111i \u0111\u1ec3 thu h\u00fat nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 h\u01a1n. Nh\u1eefng ho\u1ea1t \u0111\u1ed9ng nh\u01b0 v\u1eady \u0111\u00e3 g\u00f3p ph\u1ea7n v\u00e0o m\u00f4i tr\u01b0\u1eddng si\u00eau \u0111\u1ea7u c\u01a1 c\u1ee7a nh\u1eefng n\u0103m 1920 d\u1eabn \u0111\u1ebfn l\u1ea1m ph\u00e1t c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n tr\u01b0\u1edbc khi n\u00f3 s\u1ee5p \u0111\u1ed5 v\u00e0o n\u0103m 1929.<\/p>\n

M\u1eb7c d\u00f9 Lu\u1eadt thi\u00ean thanh \u0111\u00e3 t\u1ed3n t\u1ea1i trong kho\u1ea3ng th\u1eddi gian \u0111\u00f3, Kansas l\u00e0 c\u01a1 quan ban h\u00e0nh lu\u1eadt s\u1edbm nh\u1ea5t (n\u0103m 1911), nh\u01b0ng ch\u00fang kh\u00f4ng c\u00f3 ti\u1ebfng n\u00f3i v\u00e0 thi h\u00e0nh kh\u00f4ng quy\u1ebft li\u1ec7t, v\u00e0 c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng tr\u00e1nh \u0111\u01b0\u1ee3c b\u1eb1ng c\u00e1ch kinh doanh \u1edf m\u1ed9t bang kh\u00e1c.<\/p>\n

Sau s\u1ef1 s\u1ee5p \u0111\u1ed5 c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n v\u00e0 s\u1ef1 kh\u1edfi \u0111\u1ea7u c\u1ee7a cu\u1ed9c \u0110\u1ea1i suy tho\u00e1i, Qu\u1ed1c h\u1ed9i \u0111\u00e3 ban h\u00e0nh m\u1ed9t s\u1ed1 \u0110\u1ea1o lu\u1eadt Ch\u1ee9ng kho\u00e1n \u0111\u1ec3 qu\u1ea3n l\u00ed th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n v\u00e0 ng\u00e0nh t\u00e0i ch\u00ednh \u1edf c\u1ea5p Li\u00ean bang v\u00e0 th\u00e0nh l\u1eadp SEC.<\/p>\n

N\u0103m 1956, \u0110\u1ea1o lu\u1eadt Ch\u1ee9ng kho\u00e1n (Uniform Securities Act) \u0111\u00e3 \u0111\u01b0\u1ee3c th\u00f4ng qua. Lu\u1eadt n\u00e0y cung c\u1ea5p m\u1ed9t khung h\u01b0\u1edbng d\u1eabn c\u00e1c bang trong vi\u1ec7c x\u00e2y d\u1ef1ng lu\u1eadt ch\u1ee9ng kho\u00e1n c\u1ee7a ri\u00eang h\u1ecd. N\u00f3 l\u00e0 c\u01a1 s\u1edf cho 40 tr\u00ean 50 lu\u1eadt c\u1ee7a ti\u1ec3u bang ng\u00e0y nay v\u00e0 n\u00f3 \u0111\u01b0\u1ee3c \u0111\u1eb7t bi\u1ec7t danh l\u00e0 Lu\u1eadt thi\u00ean thanh.<\/p>\n

(Ngu\u1ed3n tham kh\u1ea3o: Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Lu\u1eadt thi\u00ean thanh (ti\u1ebfng Anh: Blue Sky Law) l\u00e0 c\u00e1c qui \u0111\u1ecbnh c\u1ee7a c\u00e1c ti\u1ec3u bang nh\u1eb1m b\u1ea3o v\u1ec7 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ed1ng l\u1ea1i gian l\u1eadn ch\u1ee9ng kho\u00e1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30180"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30180"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30180\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}