Ch 41 Securities Law Flashcards

1
Q

Howey test for securities

A
  1. Investment in a common enterprise
  2. Reasonable expectation of profit gained
  3. Primarily or substantially from others’ efforts
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2
Q

Registration statement items (6)

A

Description of securities offered for sale
Explanation of how proceeds from sale will be used
Description of registrant’s business and properties
Info about management of the company
Description of any pending lawsuits involving the registrant
Financial statements certified by an independent public accountant

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3
Q

Prospectus

A

Advertising version of registration statement

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