Series 79: 6.4.2. Civil Liability For False Communications To Customers

Taken from our Series 79 Online Guide

6.4.2. Civil Liability for False Communications to Customers

Under Section 12 of the Securities Act, untrue statements of material fact, or omissions of material fact, in a written prospectus or oral communication whose result is to mislead a customer are subject to civil prosecution in a court of law. Anyone who offers or sells a security misleadingly bears the burden of proof that he did not

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