The bulk of the material tested on the exam from this area comes from the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Topics included under the scope of the 1933 Act are registration requirements, exempt securities, and exempt transactions. The purposes of the 1933 Act are to provide investors with full and fair disclosure of a security offering and to prevent fraud. The basic prohibition of the 1933 Act is that no sale of a security shall occur in interstate commerce without registration and without furnishing a prospectus to prospective purchasers unless the security or the transaction is exempt from registration.
The purpose of the 1934 Act is the establishment of the Securities Exchange Commission to assure fairness in the trading of securities subsequent to their original issuance. The basic scope of the 1934 Act is to require periodic reports of financial and other information concerning registered securities, and to prohibit manipulative and deceptive devices in both the sale and purchase of securities.
A. Securities Act of 1933
B. Securities Exchange Act of 1934
C. The Sarbanes-Oxley Act of 2002
D. The Wall Street Reform and Consumer Protection (Dodd-Frank) Act of 2010
E. Exemptions for Smaller and Emerging Companies
F. Internet Securities Offering (ISO)
G. Electronic Signatures and Electronic Records
H. State “Blue-Sky” Laws
Multiple-Choice Answers ...