BY JONATHAN L. KOTLIER AND ALLISON D. BURROUGHS
The Massachusetts Securities Division (the “MSD”) possesses extraordinary power as it can put a broker-dealer or investment advisor out of business in the Commonwealth. The MSD enforces the Massachusetts Uniform Securities Act, G.L. c. 110A et seq., which prohibits unlicensed and/or fraudulent activity by anyone who offers or sells a security in the Commonwealth. If it finds a violation, the MSD can impose financial sanctions, order a person to cease and desist from the unlawful practices, or suspend or revoke the registration of any broker-dealer, investment advisor, agent, or representative. (Id. at §204(a)). Read the Entire Article.