Florida Statute 517.301 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 517
SECURITIES TRANSACTIONS

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F.S. 517.301

517.301 Fraudulent transactions; falsification or concealment of facts.—

(1) It is unlawful and a violation of this chapter for a person:

(a) In connection with the rendering of any investment advice or in connection with the offer, sale, or purchase of any investment or security, including any security exempted under s. 517.051 and including any security sold in a transaction exempted under s. 517.061, s. 517.0611, or s. 517.0612, directly or indirectly:

1. To employ any device, scheme, or artifice to defraud;

2. To obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or

3. To engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon a person.

(b) By use of any means, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, communication, or broadcast that, although not purporting to offer a security for sale, describes such security for a consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, or from an agent or employee of an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount of the consideration.

(c) In any matter within the jurisdiction of the office, to knowingly and willfully falsify, conceal, or cover up, by any trick, scheme, or device, a material fact, make any false, fictitious, or fraudulent statement or representation, or make or use any false writing or document, knowing the same to contain any false, fictitious, or fraudulent statement or entry.

(2) For purposes of this section, the term “investment” means any commitment of money or property principally induced by a representation that an economic benefit may be derived from such commitment, except that the term does not include a commitment of money or property for:

(a) The purchase of a business opportunity, business enterprise, or real property through a person licensed under chapter 475 or registered under former chapter 498; or

(b) The purchase of tangible personal property through a person not engaged in telephone solicitation, electronic mail, text messages, social media, or other electronic means where there are no specific representations or guarantees made by the offeror or seller as to the economic benefit to be derived from the purchase.

(3) It is unlawful for a person in issuing or selling a security within this state, including a security exempted under s. 517.051 and including a transaction exempted under s. 517.061, s. 517.0611, or s. 517.0612, to misrepresent that such security or business entity has been guaranteed, sponsored, recommended, or approved by the state or an agency or officer of the state or by the United States or an agency or officer of the United States.

(4) It is unlawful for a person registered or required to be registered, or subject to the notice requirements, under this chapter, including such persons and issuers who are subject to s. 517.051, s. 517.061, s. 517.0611, s. 517.0612, or s. 517.081, to misrepresent that such person has been sponsored, recommended, or approved, or that such person’s abilities or qualifications have in any respect been approved, by the state or an agency or officer of the state or by the United States or an agency or officer of the United States.

(5) It is unlawful and a violation of this chapter for a person in connection with the offer or sale of an investment to obtain money or property by means of:

(a) A misrepresentation that the investment offered or sold is guaranteed, sponsored, recommended, or approved by the state or an agency or officer of the state or by the United States or an agency or officer of the United States; or

(b) A misrepresentation that such person is sponsored, recommended, or approved, or that such person’s abilities or qualifications have in any respect been approved, by the state or an agency or officer of the state or by the United States or an agency or officer of the United States.

(6)(a) Subsection (3) or subsection (4) may not be construed to prohibit a statement that a person or security is registered or has made a notice filing under this chapter if such statement is required by this chapter or rules promulgated thereunder and is true in fact and if the effect of such statement is not a misrepresentation.

(b) A statement that a person is registered made in connection with the offer or sale of a security under this chapter must include the following disclaimer: “Registration does not imply that such person has been sponsored, recommended, or approved by the state or an agency or officer of the state or by the United States or an agency or officer of the United States.”

1. If the statement of registration is made in writing, the disclaimer must immediately follow such statement and must be in the same size and style of print as the statement of registration.

2. If the statement of registration is made orally, the disclaimer must be made or broadcast with the same force and effect as the statement of registration.

(7) It is unlawful and a violation of this chapter for a person to directly or indirectly manage, supervise, control, or own, either alone or in association with others, a boiler room in this state which sells or offers for sale a security or investment in violation of subsection (1), subsection (3), subsection (4), subsection (5), or subsection (6).

History.—s. 1, ch. 65-428; ss. 12, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 6, ch. 78-435; ss. 4, 5, ch. 80-254; s. 396, ch. 81-259; ss. 2, 3, ch. 81-318; s. 13, ch. 84-159; s. 12, ch. 86-85; ss. 14, 15, ch. 90-362; s. 4, ch. 91-429; s. 8, ch. 92-45; s. 608, ch. 2003-261; s. 40, ch. 2008-240; s. 18, ch. 2024-168.

F.S. 517.301 on Google Scholar

F.S. 517.301 on Casetext

Amendments to 517.301

Arrestable Offenses / Crimes under Fla. Stat. 517.301

Level: Degree
Misdemeanor/Felony: First/Second/Third

S517.301 - FRAUD - SALE OF SECURITY/INVESTMENT ADVICE - F: T

Annotations, Discussions, Cases:

Cases Citing Statute 517.301

Total Results: 20

NGUYEN v. PERSPECTIVE GLOBAL, LLC, HOOKS

Court: Fla. Dist. Ct. App. | Date Filed: 2024-06-07T00:00:00-07:00

Snippet: an] investment or security" under section 517.301, Florida Statutes (2020), and sale of an unregistered…any investment or security," under section 517.301 against Perspective, Hooks, and the Rigginses in… 7 Section 517.301(1)(a)1 states that it is a violation to "employ…company can be an investment contract5 under section 517.301. See Silberman v. Premier Beauty & Health LLC… of an investment contract" under section 517.301). The timing of Ms. Nguyen's payment

SAM SHRIVASTAVA, VENN THERAPEUTICS, LLC AND SANDIP PATEL v. CAC PHARMA INVESTMENTS LLC, AND C & J HEALTHCARE INVESTMENTS, LLC

Court: Fla. Dist. Ct. App. | Date Filed: 2024-03-06T00:00:00-08:00

Snippet: III claimed that the Appellants violated section 517.301(1)(a), as they misrepresented and omitted material

SAM SHRIVASTAVA, VENN THERAPEUTICS, LLC AND SANDIP PATEL v. CAC PHARMA INVESTMENTS LLC, AND C & J HEALTHCARE INVESTMENTS, LLC

Court: Fla. Dist. Ct. App. | Date Filed: 2024-03-06T00:00:00-08:00

Snippet: III claimed that the Appellants violated section 517.301(1)(a), as they misrepresented and omitted material

SHORELINE FOUNDATION, INC. v. VICTOR BRISK

Court: Fla. Dist. Ct. App. | Date Filed: 2019-06-26T00:53:00-07:00

Snippet: fraud, misrepresentation in violation of section 517.301(1), Florida Statutes (2015), (the “Blue Sky Law…timely filed motion for rehearing. 5 Section 517.301(1)(a), Fla. Stat.

J.P. Morgan Securities, LLC v. Geveran Investments Ltd.

Court: Fla. Dist. Ct. App. | Date Filed: 2017-08-04T00:00:00-07:00

Citation: 224 So. 3d 316, 2017 WL 3318715, 2017 Fla. App. LEXIS 11274

Snippet: made, ... *324 not misleading.” § 517.301, Fla. Stat. (2012). The FSIPA provides for a remedy…remedy of rescission for all violations of section 517.301 “if the plaintiff still owns the security.” Id.…517.211. Joint and several liability under section 517.301 extends to any “director, officer, partner, or …majority of federal courts interpreting section 517.301 have adopted the test for materiality developed…11th Cir. 2004) (noting the elements of a section 517.301 claim are similar to those under Federal Rule 10b

J.P. Morgan Securities v. Geveran Investments

Court: Fla. Dist. Ct. App. | Date Filed: 2017-07-31T00:53:00-07:00

Snippet: the statements made, . . . not misleading.” § 517.301, Fla. Stat. (2012). The FSIPA provides for a remedy…remedy of rescission for all violations of section 517.301 “if the plaintiff still owns the security.” Id…517.211. Joint and several liability under section 517.301 extends to any “director, officer, partner, or…majority of federal courts interpreting section 517.301 have adopted the test for materiality developed… Cir. 2004) (noting the elements of a section 517.301 claim are similar to those under Federal Rule 10b

Lighting Science v. Geveran Investments

Court: Fla. Dist. Ct. App. | Date Filed: 2017-06-05T00:53:00-07:00

Snippet: the statements made, . . . not misleading.” § 517.301, Fla. Stat. (2012). The FSIPA provides for a remedy…remedy of rescission for all violations of section 517.301 “if the plaintiff still owns the security.” Id…2012). Joint and several liability under section 517.301 extends to any “director, officer, partner, or …majority of federal courts interpreting section 517.301 have adopted the test for materiality developed… Cir. 2004) (noting the elements of a section 517.301 claim are similar to those under Federal Rule 10b

JP Morgan Securities v. Geveran Investments

Court: Fla. Dist. Ct. App. | Date Filed: 2017-06-05T00:53:00-07:00

Snippet: the statements made, . . . not misleading.” § 517.301, Fla. Stat. (2012). The FSIPA provides for a remedy…remedy of rescission for all violations of section 517.301 “if the plaintiff still owns the security.” Id…2012). Joint and several liability under section 517.301 extends to any “director, officer, partner, or …majority of federal courts interpreting section 517.301 have adopted the test for materiality developed… Cir. 2004) (noting the elements of a section 517.301 claim are similar to those under Federal Rule 10b

Wilfred A. Brown v. State of Florida

Court: Fla. Dist. Ct. App. | Date Filed: 2015-07-29T00:00:00-07:00

Citation: 189 So. 3d 837, 2015 Fla. App. LEXIS 11410

Snippet: security transaction, in violation of sections 517.301 and 517:302, Florida Statutes (2007). The state…fraudulent security transaction, under section 517.301 (l)(a), Florida Statutes (2007), on which appellant…or purchase of an investment. See § 517.301(l)(a), Fla. Stat. (2007). This is not required

Barnett v. Antonacci

Court: Fla. Dist. Ct. App. | Date Filed: 2013-08-28T00:00:00-07:00

Citation: 122 So. 3d 400, 2013 WL 4525322, 2013 Fla. App. LEXIS 13680

Snippet: JOHNSON, LAURA, Associate Judge, concur. . See §§ 517.301 (l)(a)2. & 517.302(1), Fla. Stat. (2012).

Wojnowski v. State, Office of Financial Regulation

Court: Fla. Dist. Ct. App. | Date Filed: 2012-09-13T00:00:00-07:00

Citation: 98 So. 3d 189, 2012 WL 4009546, 2012 Fla. App. LEXIS 15370

Snippet: committed securities fraud in violation of Section 517.301, Florida Statutes. Appellant argues that OFR cannot…Respondents are in violation of Florida Statute § 517.301; (2) as to violation of [chapter] 517, Respondents…Chapter 517, Florida Statutes, specifically Section 517.301 and 517.07, Florida Statutes, which [is] grounds… unregistered securities, and violated section 517.301, Florida Statutes, by misrepresenting information

Eagletech Communications, Inc. v. Bryn Mawr Investment Group, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 2012-02-01T00:00:00-08:00

Citation: 79 So. 3d 855, 2012 WL 280242, 2012 Fla. App. LEXIS 1346

Snippet: of section 517.301: Any person purchasing or selling a security in violation of s. 517.301, and every …Protection Act, and in particular violation of section 517.301, Florida Statutes (2000).7 Section 517.211(2) creates…that the named defendants had violated section 517.301(1) via a market manipulation scheme. According … Defendants Paradigm and Trinity.” . Section 517.301(1) provides: It is unlawful and a violation of

Gemini Investors III, L.P. v. Nunez

Court: Fla. Dist. Ct. App. | Date Filed: 2012-01-25T00:00:00-08:00

Citation: 78 So. 3d 94, 2012 Fla. App. LEXIS 972, 2012 WL 204722

Snippet: securities act violation claims are based on section 517.301(1)(a), Florida Statutes (2004), which makes it

Rubin v. Gabay

Court: Fla. Dist. Ct. App. | Date Filed: 2008-02-12T23:53:00-08:00

Citation: 979 So. 2d 988

Snippet: stock and treble damages. Rubin appeals. Section 517.301, Florida Statutes, makes it unlawful to employ …purchasing or selling a security in violation of s. 517.301, and every director, officer, partner, or agent…meaning of the term agent in the context of section 517.301, this court explained that the term is to be given

R.M. Stark & Co. v. Noddle

Court: Fla. Dist. Ct. App. | Date Filed: 2006-09-20T00:00:00-07:00

Citation: 941 So. 2d 401, 2006 Fla. App. LEXIS 15512, 2006 WL 2683210

Snippet: which sued Appellants for violation of section 517.301, Florida Statutes, and breach of fiduciary duty

Wachovia Securities, LLC v. Vogel

Court: Fla. Dist. Ct. App. | Date Filed: 2006-01-19T23:53:00-08:00

Citation: 918 So. 2d 1004

Snippet: ; complaint was that Wachovia violated section 517.301, which is titled "Fraudulent transactions;

Citigroup, Inc. v. Boles

Court: Fla. Dist. Ct. App. | Date Filed: 2005-09-28T00:53:00-07:00

Citation: 914 So. 2d 23

Snippet: unquestionably sound in tort and as violations of section 517.301, Florida Statutes, the Florida Securities Investors

Black v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2002-05-31T00:53:00-07:00

Citation: 819 So. 2d 208

Snippet: fraud." § 517.301(1)(a)3., Fla. Stat. (1993). At least two violations of section 517.301(1)(a) in which…Securities and Investor Protection Act, section 517.301(1)(a), Florida Statutes (1993). We affirm. I. … securities or offering them for sale, section 517.301(1)(a), Florida Statutes (1993), makes it unlawful…misleading] omission to state a material fact," § 517.301(1)(a)2., Fla. Stat. (1993), or to "engage …against Mr. Black based on violations of section 517.301(1)(a), Florida Statutes (1993), which the state

PEREZ-ABREU, ZAMORA, PA v. Taracido

Court: Fla. | Date Filed: 2001-07-12T00:53:00-07:00

Citation: 790 So. 2d 1051

Snippet: asserting fraud; negligence; violations of sections 517.301 and 517.211, Florida Statutes; civil theft; breach

Perez-Abreu, Zamora & De La Fe, P.A. v. Taracido

Court: Fla. | Date Filed: 2001-07-12T00:00:00-07:00

Citation: 790 So. 2d 1051, 2001 Fla. LEXIS 1392, 2001 WL 776550

Snippet: asserting fraud; negligence; violations of sections 517.301 and 517.211, Florida Statutes; civil theft; breach