Question

The Securities Act of 1933 a. imposed heavy penalties for insider trading. b. required complete disclosure of relevant financial information for publicly offered securities in the primary market. c. required complete disclosure of relevant financial information for securities traded in the secondary market. d. declared trading strategies to manipulate the prices of public secondary securities illegal. e. All of these choices are correct.

Answer 1

Answer:

Option B.

Explanation:

Required complete disclosure of relevant financial information for publicly offered securities in the primary market, is the right answer.

The Congress of the United States enacted the Securities Act of 1933 on 27th May 1933. It was the time of the Great Depression.  Passed according to the Interstate Commerce Clause of the Constitution, it expects every proposal or selling of securities that practices the means and contributions of interstate commerce to be listed with the SEC under the 1933 Act unless an exclusion from certification exists following the law.