Blue-skylaw

[Sarah]

A law enacted to provide for the regulation and supervision ofinvestment companies in order to protect the public against companiesthat do not intend to do a fair and honest business and that offerinvestments that do not promise a fair return; -- so called becausethe promises made by some investment companies are as boundless oralluring as the blue sky, or, perhaps, because designed to clear awaythe clouds and fogs from the simple investor's horizon. [Colloq.]