ASSEMBLY SENIOR ISSUES, TOURISM AND GAMING COMMITTEE

 

STATEMENT TO

 

ASSEMBLY, No. 2872

 

STATE OF NEW JERSEY

 

DATED: MAY 15, 1997

 

      The Assembly Senior Issues, Tourism and Gaming Committee reports favorably Assembly, No. 2872.

      This bill clarifies that fraud in the sale of securities is a violation of the consumer fraud act, P.L.1960, c.39 (C.56:8-1 et seq.). The bill adds "securities" to the definition of "merchandise" in the act, which protects consumers from deceptive sales or advertising practices in the marketing of merchandise. The consumer fraud act currently defines merchandise to include any objects, wares, goods, commodities, services or anything offered, directly or indirectly, to the public for sale.