Series 24: 4.1.12.3. Fraudulent Interstate Transactions

Taken from our Series 24 Online Guide

4.1.12.3. Fraudulent Interstate Transactions

Section 17 of the Securities Act declares it unlawful in the offer or sale of any securities to:

Employ any device, scheme, or artifice to defraud

Profit by means of an untrue statement or omission of a material fact

Engage in any transaction or activity that would defraud or deceive the purchaser

Section 17 further prohibits any person (in this case “person” refers to an entity) from pu

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