Securities Act Liability and the Underwriting Syndicate
Free FINRA Series 79 (Investment Banking Representative) lesson in Underwriting, Offerings and Registration of Securities. 19 min read, ~2,798 words.
Section 11 imposes civil liability for a materially false or misleading registration statement; defendants other than the issuer escape via the due-diligence defense, and Rule 176 lists factors for a reasonable investigation. Section 12(a)(1) covers unregistered sales; Section 12(a)(2) covers material misstatements in a prospectus or oral communication; Section 17...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- B15
- B16
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