Reliant Inc. files a suit against Saul, an accountant, under the antifraud provisions of the Securities Exchange Act of 1934 and Rule 10b-5 of the Securities and Exchange Commission. To succeed, Reliant must show that Saul

A) acted with scienter .
B) bought or sold a security.
C) is incompetent.
D) knows nothing about securities .

Scienter

Knowledge of the wrongful nature of one's actions, particularly in the context of securities fraud.

Antifraud Provisions

Sections within laws or regulations aimed at preventing deceitful practices and protecting parties from fraudulent activities.

Securities Exchange Act

A federal law enacted in the United States to regulate the trading of securities in the secondary market, to ensure transparency and fairness.