BADM 300 Lecture Notes - Lecture 4: Uniform Securities Act, Securities Offering, Treasury Stock

• School: University of Illinois
• Department: Business Administration
• Course: BADM 300
• Professor: Marrs Gregory

Document Summary

Commissioner may prohibit issuance is he determines that issuance is not in the public interest or offering would work fraud on purchaser. State regulation proved inadequate to regulate national security. Current importance: state securities regulation still exist & frauds applies to areas in which federal laws don"t apply (where a securities offering is exempt & ) Securities regulation- federal public for the 1st time. Securities act of 1933> governs distributions by an issuer to the. Based upon the uniform securities act (1956, revised in 1985, Typically requires registration of brokers, dealers, and securities offered or traded in the state, and proscribes certain fraudulent conduct. Qualification approach: state securities commissioner evaluates the merits of the proposal investment before the securities can be offered for sale. Securities exchange act of 1934> governs subsequent trading in those securities among private investors on the various securities exchanges or in the more formal over-the-counter market; this act established the.