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To view the different Illinois securities laws, Illinois lawyers, which includes Chicago lawyers, refer to the Illinois Complied Statutes 815 ILCS 5/ - Illinois Securities Law of 1953. Illinois law, including Chicago law, provides the following rules on registration of dealers and advisers.

(815 ILCS 5/8) Sec. 8. Registration of dealers, limited Canadian dealers, salespersons, investment advisers, and investment adviser representatives.

A. Except as otherwise provided in this subsection A, every dealer, limited Canadian dealer, salesperson, investment adviser, and investment adviser representative shall be registered as such with the Secretary of State. No dealer or salesperson need be registered as such when offering or selling securities in transactions exempted by subsection A, B, C, D, E, G, H, I, J, K, M, O, P, Q, R or S of Section 4 of this Act, provided that such dealer or salesperson is not regularly engaged in the business of offering or selling securities in reliance upon the exemption set forth in subsection G or M of Section 4 of this Act. No dealer, issuer or controlling person shall employ a salesperson unless such salesperson is registered as such with the Secretary of State or is employed for the purpose of offering or selling securities solely in transactions exempted by subsection A, B, C, D, E, G, H, I, J, K, L, M, O, P, Q, R or S of Section 4 of this Act; provided that such salesperson need not be registered when effecting transactions in this State limited to those transactions described in Section 15(h)(2) of the Federal 1934 Act or engaging in the offer or sale of securities in respect of which he or she has beneficial ownership and is a controlling person. The Secretary of State may, by rule, regulation or order and subject to such terms, conditions, and fees as may be prescribed in such rule, regulation or order, exempt from the registration requirements of this Section 8 any investment adviser, if the Secretary of State shall find that such registration is not necessary in the public interest by reason of the small number of clients or otherwise limited character of operation of such investment adviser.

We know many experienced Illinois securities lawyers who have had success with shareholder disputes, stock fraud, conversion of funds and other matters of Illinois law with respect to securities. Many of these lawyers are Chicago attorneys as a lot of the Arbitration hearings happen in Chicago and it is helpful for these Chicago attorneys to be near the Board of Trade and Mercantile Exchange. If you would a referral to a great Illinois lawyer for securities disputes please contact us.

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