Which of the following conditions is necessary for an act involving securities fraud to be considered criminal and subject to criminal penalties?

Question

Quizplus · Accepted Answer

In order for an act of fraud to be considered criminal, the perpetrator must have willfully committed the fraudulent act. In this case, the Administrator will probably ask the court to impose criminal penalties, but an Administrator can't cause an act of fraud to be criminal by sending it to the criminal court system. If an agent misleads a customer regarding the returns to be expected on an investment but hasn't deliberately done so, it is still fraud, but not criminal fraud, regardless of how much the victims lost.

Which of the Following Conditions Is Necessary for an Act