Authoritative intelligence on Regulation D, Blue Sky, and the regulatory perimeter of private placements
Kansas carries an inheritance no other state shares: in 1911, Kansas became the first jurisdiction in the United States to enact a securities law, and the term “Blue Sky law” itself originated in Kansas commentary describing speculative schemes with “no more basis than so many feet of blue sky.” Within five years more than thirty states had followed; the federal Securities Act of 1933 followed two decades after that. Every Reg D notice filing that practitioners file across the United States traces its conceptual lineage to Topeka. The Office of the Kansas Securities Commissioner, housed today as a division of the Kansas Insurance Department, is the institutional descendant of that 1911 framework.
