Laws & RegulationsPregunta 39 de 100
An agent commits fraud in connection with the sale of a security that is itself exempt from registration. Under the Uniform Securities Act, the antifraud provisions:
a.Still apply, because antifraud provisions apply to exempt and non-exempt securities alike
b.Do not apply because the security is exempt
c.Apply only if the client is a resident
d.Apply only to federal covered securities
Explicación
The antifraud provisions of the Act apply to all securities transactions, including those involving exempt securities and exempt transactions. Exemption from registration never exempts a person from the duty not to commit fraud. This is a frequently tested distinction.
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