What sort of liability does an accountant have under the Securities Exchange Act of 1934?

Question

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Under the Securities Exchange Act of 1934, an accountant faces civil liability when there is scienter (a wrongful intent, especially knowledge of the wrongfulness of one's acts) and criminal liability for willful violations. This act primarily focuses on the regulation of secondary trading of securities and imposes strict liabilities on those who manipulate or deceive in the securities market.

What Sort of Liability Does an Accountant Have Under the Securities