bluelaw(蓝色法规)和blueskylaw(蓝天法)原来是美国殖民时期的清教徒所订的法律,禁止在星期天跳舞、喝酒等,以后转用为有关个人行为的严格规定,如禁止公务员涉足酒家、舞厅、夜总会、或不该接受款宴等等:Abluelaw,thuscalledbecauseitwassupposedlywrittenonbluepaperwhenfirstenactedbyPuritan(清教徒)coloniesinthe17thcentury,prohibitssellingofcertaintypesofmerchandise,orretailorbusinessactivityofanykind,oncertaindaysoftheweek(usuallySunday?)。InTexas,forexample,bluelawsprohibitedsellinghousewaressuchaspots,pans,andwashingmachinesonSunday,until1985.ManysouthernstatesprohibitsellingalcoholonSunday.(Thereisnoactualevidencefortheprintingoftheselawsonbluepaper;Connecticutiswidelybelievedtohavedoneso,butthesurvivingdocumentsareonthesamepaperasotherstatelaws,andthereisnocontemporarymentionofbluepaper.Nonetheless,thenameisshortandclear,andunlikelytochange.)Likely,allbluelawstemsfromthefirstsuchstatutesetdownbytheEmperorConstantine1300yearsbeforethePuritans:Letalljudgesandallcitypeopleandalltradesmenrestuponthevenerabledayofthesun.Butletthosedwellinginthecountryfreelyandwithfulllibertyattendtothecultureoftheirfields;sinceitfrequentlyhappensthatnootherdayissofitforthesowingofgrain,ortheplantingofvines;hence,thefavorabletimeshouldnotbeallowedtopass,lesttheprovisionsofheavenbelost.“GiventheseventhofMarch,CrispusandConstantinebeingconsuls,eachforthesecondtime.A.D.321.ManyunusualfeaturesofAmericanculturesuchasthefactthatonecanbuygroceries,officesupplies,andhousewaresfromadrugstore“aretheresultofbluelaws(drugstoreswereallowedtoremainopentoaccommodateemergencymedicalneeds)。blueskylaws蓝天法指美国各州对投资公司、运营公司的债券买卖进展监视和保护投资者免遭欺诈的《公司证券欺诈防治法》之俗称。IntroductionWhiletheSEC(ScuritiesandExchangeCommission:证券买卖委员会)directly,andthroughitsoversightoftheNASD(美国证券买卖商协会)andthevariousExchanges,isthemainenforcerofthenation’ssecuritieslaws,eachindividualstatehasitsownsecuritieslawsandrules.ThesestaterulesareknownasBlueSkyLaws“。Theoriginofthetermisabitunclear,butthefirstuseofthetermthatweareawareofisinanopinionofJusticeMcKennaoftheUnitedStatesSupremeCourt,in1917.JusticeMcKennawrotetheCourt’sopinioninHallvs.Geiger-JonesCo.,242U.S.539(1917),whichwasthreecases,alldealingwiththeconstitutionalityofstatesecuritiesregulations.JusticeMcKennawroteThenamethatisgiventothelawindicatestheevilatwhichitisaimed,thatis,tousethelanguageofacitedcase,speculativeschemeswhichhavenomorebasisthansomanyfeetof‘bluesky’“;or,asstatedbycounselinanothercase,tostopthesaleofstockinfly-by-nightconcerns,visionaryoilwells,distantgoldminesandotherlikefraudulentexploitations.“Evenifthedescriptionsberegardedasrhetorical(带修辞色彩的),theexistenceofevilisindicated,andabeliefofitsdetriment;andweshallnotpausetodomorethanstatethatthepreventionofdeceptioniswithinthecompetencyofgovernmentandthattheappreciationoftheconsequencesofitisnotopenforourreview.Unfortunately,JusticeMcKennanevergaveareferencetothecitedcase“thathereferredto,andtheHallcaseshavebecomeknownasTheBlueSkyCases,andJusticeMcKennaastheauthorofthephrase.Whiletheselawsvaryfromstatetostate,thelawsrequireregistrationofsecuritiesofferings,andregistrationofbrokersandbrokeragefirms.Eachstatehasaregulatoryagencywhichadministersthelaw,typicallyknownasthestateSecuritiesC...