If an investor owns shares in Microsoft,for instance,he or she does not have to register with the SEC before reselling those shares.

Question

Quizplus · Accepted Answer

This is because the investor is considered a secondary market participant and is not engaged in an initial public offering (IPO) or a public offering. As a result, registration with the SEC is not required for the resale of those shares.

If an Investor Owns Shares in Microsoft,for Instance,he or She