Civil Liability
Violation of the registration requirements can lead to civil liability for the issuer and underwriters sections 11, 12(a)(1) or 12(a)(2) of the Act. Additional liability may be imposed under the Securities Exchange Act of 1934 (Rule 10b-5).
Read more about this topic: Securities Act Of 1933
Famous quotes containing the word civil:
“Luxury, or a refinement on the pleasures and conveniences of life, had long been supposed the source of every corruption in government, and the immediate cause of faction, sedition, civil wars, and the total loss of liberty. It was, therefore, universally regarded as a vice, and was an object of declamation to all satyrists, and severe moralists.”
—David Hume (1711–1776)