No broker-dealer licensed under this chapter shall effect any transaction in, or induce or attempt to induce the purchase or sale of, any security in this state in contravention of such rules as the commissioner may prescribe designed to promote just and equitable principles of trade, to provide safeguards against unreasonable profits or unreasonable rates of commissions or other charges, and in general to protect investors and the public interest, and to remove impediments to and perfect the mechanism of a free and open market.
Cal. Corp. Code § 25218
Licensing of Agents and Broker-Dealers
Known as the Corporate Securities Law
The act spans §§ 25000–25707 (201 sections).
Applied in 1 court decision — leading case 86 Cal. App. 4th 26 - Asplund v. Selected Invs. in Fin. Equities, Inc. (2000)
Most recently applied in 86 Cal. App. 4th 26 - Asplund v. Selected Invs. in Fin. Equities, Inc. (December 2000)
Amended by Stats. 1979, Ch. 665.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.