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LEGL 2700 Epstein Unit 4 Exam With Complete Solutions $14.49   Add to cart

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LEGL 2700 Epstein Unit 4 Exam With Complete Solutions

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LEGL 2700 Epstein Unit 4 Exam With Complete Solutions...

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  • November 7, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • LEGL 2700 Epstein Unit 4
  • LEGL 2700 Epstein Unit 4
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Easton
LEGL 2700 Epstein Unit 4 Exam With Complete
Solutions


What broadly classifies as a "security" for the purposes of federal regulation? -
ANSWER Any interest or instrument that offers the right to subscribe to purchase stock,
bond, or any certificate of interest.



Supreme Court says when one person invests money and looks to others to manage the
money for profit.



Who is responsible for security regulation at the federal level? - ANSWER Securities and
Exchange Commissions (SEC):

- Responsible for administering the federal securities laws

Has quasi-legislative, quasi-executive, and quasi-judicial functions



What is the Securities Act of 1933? - ANSWER Applies to the first sale of the security.



There must be an available disclosure of information to the potential investors.



The information should be accurate and not misleading.



Penalties for violating Securities Act of 1933? - ANSWER Criminal Punishment, Civil
liability, Equitable remedy of an injunction



What is the Securities Exchange Act of 1934? - ANSWER Regulates transfers of
securities AFTER the initial sale



Created the Securities and Exchange Commission (SEC)

, Illegal to sell unregistered securities on national exchange



Registration requires filing prescribed forms with stock exchange and SEC



Ongoing reporting requirements (10-Q, 10-K, 8-K, etc)

What are the phases of going public? - ANSWER Prefiling Period, Waiting Period,
Posteffective Period



Prefiling Period - ANSWER Legal to engage in preliminary negotiations and agreements
with underwriters



Illegal to sell the securities



Waiting Period - ANSWER Generally 20 days to allow SEC to review



Still illegal to sell securities



Not illegal to solicit offers, just can't accept them yet



Posteffective Period - ANSWER Sales can commence



What documents are required in going public? - ANSWER Registration Statement and
Prospectus



Registration Statement - ANSWER Full disclosure of financial information concerning
issuer and control persons



Prospectus - ANSWER Financial information with respect to issuer and control persons:

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