Section 670. Securities regulation

Study of legal control over the issuance and distribution of corporate securities. Topics include: registration and distribution of securities under the Federal Securities Act of 1933, including the definition of a security; basic structure, applicability, and prohibitions of the Act; underwriting; preparation, processing and use of registration statement and prospectuses; exemptions from registration under the Act, including Regulation A, private offerings, and business reorganizations and recapitalizations; secondary distributions; brokers' transactions; and civil liability for violation of the Act. Registration, distribution and regulation of securities under state "blue sky" laws. Regulations of franchise arrangements under the Federal Securities Act of 1933 and Virginia's Retail Franchising Act. Regulation of national securities exchanges and broker-dealers; registration and listing of securities on national securities exchanges; periodic reporting and public disclosure of information requirements for companies whose securities are traded on national securities exchanges; and civil liability for violation of the Act. Regulation of mutual funds and other types of investment companies under the Federal Investment Company Act of 1940.

Historical Notes

Derived from VR168-01-04 § 9.33, eff. March 1, 1993.

Statutory Authority

§§ 54.1-3922 and 54.1-3926 of the Code of Virginia.