Asked by Nabil Abdulkadir on Jun 27, 2024
Verified
The Securities Exchange Act of 1934 does not impose any criminal liability for violation of any of its provisions.
Securities Exchange Act
A U.S. law enacted in 1934 to govern the trading of securities, such as stocks and bonds, to protect investors and maintain fair and orderly markets.
Criminal Liability
The legal responsibility for actions that violate criminal law, potentially leading to prosecution and punishment.
- Familiarize yourself with the legal duties and responsibilities accountants bear according to the Securities Act of 1933 and other related laws.
Verified Answer
RS
Rafael Shem GapusanJun 30, 2024
Final Answer :
False
Explanation :
The 1934 Act imposes criminal penalties for willful violations of any section of the 1934 Act,such as Sections 10(b)and 18,and any 1934 Act rule or regulation,such as Rule 10b-5.
Learning Objectives
- Familiarize yourself with the legal duties and responsibilities accountants bear according to the Securities Act of 1933 and other related laws.