To improve the flow of information about securities offered for public sale and prohibit misinformation and securities fraud, the United States Congress passed the

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The Securities Act of 1933 was passed by the United States Congress to regulate the securities industry, requiring that investors receive financial and other significant information concerning securities being offered for public sale, and to prohibit deceit, misrepresentations, and other fraud in the sale of securities.

To Improve the Flow of Information About Securities Offered for Public