Laws & RegulationsQuestion 90 of 110
Under the Uniform Securities Act, the antifraud provisions apply to which persons?
a.Only advisers registered with the SEC
b.Anyone who offers or sells securities or provides investment advice, whether registered or not
c.Only broker-dealers, never investment advisers
d.Only issuers of new securities
Explanation
The antifraud provisions of the Uniform Securities Act reach any person who offers, sells, or advises on securities, regardless of whether that person is registered. Registration status does not exempt anyone from liability for fraud. This broad reach is a cornerstone of investor protection under state law.
Law Reference: Uniform Securities ActPractice all 110 questions free — no signup required.
Related questions on this topic
- Under the Uniform Securities Act, which of the following is excluded from the definition of a 'security'?
- An agent (broker-dealer representative) who engages in 'selling away' is doing which of the following?
- An adviser wishing to enter into an agency cross transaction (acting as broker for both sides) must generally do which of the following?
- Which activity constitutes a prohibited misuse of material nonpublic information?
- An adviser who wishes to use client testimonials or advertisements must comply with rules that primarily require which of the following?
- Under the Uniform Securities Act, how long must an investment adviser generally retain required books and records?
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against NASAA Series 65 Investment Adviser Law Exam · How we review