Securities RegistrationPregunta 49 de 100
A seller relies on a valid exempt transaction and therefore does not register the securities. Which statement is correct?
a.The antifraud provisions of the act still apply to the offer and the sale
b.The antifraud provisions do not apply because the transaction is exempt
c.The Administrator has no jurisdiction over the sale
d.The seller may make optimistic projections without qualification
Explicación
An exemption relieves the parties of the registration requirement only; it never suspends the antifraud provisions, which reach any offer or sale of any security. The Administrator therefore retains full jurisdiction to investigate misstatements in an exempt offering. Unfounded projections presented as fact would be actionable regardless of the exemption.
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