Series 79 practice questionmediumProspectus Requirements
Section 12(a)(2) liability under the Securities Act applies primarily to which document or communication?
- AOffers and statutory prospectuses✓ Correct answer
- BUnregistered private placement memoranda
- CRegulation S offerings only
- DAnnual reports filed with the SEC
Explanation
Why A — Offers and statutory prospectuses
Section 12(a)(2) liability covers oral or written prospectuses in registered public offerings. It does not apply to private placements, Reg S, or annual reports.
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