SIE (Securities Industry Essentials) Practice Exam

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Blue-sky laws are regulated by which of the following entities?

State securities regulators
Federal Reserve
U.S. Treasury Department
Financial Industry Regulatory Authority (FINRA)

The correct answer is: State securities regulators

Blue-sky laws, also known as state securities laws, govern the offer and sale of securities within a specific state. These laws are enforced by state securities regulators, making option A the correct choice. This means that the other options, including the Federal Reserve, U.S. Treasury Department, and Financial Industry Regulatory Authority (FINRA), do not have jurisdiction over blue-sky laws. The Federal Reserve focuses on monetary policy, while the U.S. Treasury Department oversees government finances. FINRA, on the other hand, regulates the securities industry as a whole, but not specifically state securities laws.