Last but not least, economic policy as well as laws and regulations create a very open and reliable environment for investors. Some securities need not be registered if they do not constitute a public offering or because they are sold exclusively within the boundaries of one state. The Securities and Exchange Act of 1934 regulates the trading of already issued securities. The Act also regulates securities exchanges, brokers, transfer agencies and securities associations. Intrastate sales of securities are regulated by individual states through their state securities commissions.
Many states require the licensing of dealers in securities and require securities registration.
It is therefore important to analyze a state's laws in order to determine whether they apply to a sale within the state. Real Estate , both commercial and residential, is one of the most popular investments in the United States. Real estate transactions are entirely governed by state law. Unlike certain foreign countries, the U.S. and the states of the Union do not pose significant restrictions on ownership of real estate by foreigners. U.S. citizens and residents ordinarily report capital gains on their tax return.