An Administrator has jurisdiction over an offer or sale when:

a.The offer originated in the state, or was directed into and received in the state, or the acceptance of the offer took place in the state
b.Only when both the buyer and the seller reside in the state
c.Only when the security involved is registered in the state
d.Only when the transaction was profitable for the seller

解析

Jurisdiction attaches where an offer originates, where it is directed and received, and where an offer to buy or sell is accepted, which is why a single transaction can fall under two states' laws. Residency of both parties is not required. Neither registration of the security nor the seller's profit has any bearing on jurisdiction, and the antifraud provisions reach offers even where no sale occurs.

法律依据: Uniform Securities Act

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