The difference between the Securities Act of 1933 and the Securities Act of 1934 is that only the 1934 act requires audited financial statements.

Question

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Both the Securities Act of 1933 and the Securities Exchange Act of 1934 require audited financial statements for companies issuing securities. The 1933 Act focuses on the initial sale of securities, while the 1934 Act regulates trading, brokers, and exchanges.

The Difference Between the Securities Act of 1933 and the Securities