Liability traditionally has been imposed against violators even though they lacked any wrongful intent.

Question

Quizplus · Accepted Answer

The first subsection of Section 12 imposes liability on those who offer or sell securities that are not registered with the Securities Exchange Commission. This liability exists regardless of the intent or conduct of those who fail to comply with the registration requirements. Thus, liability traditionally has been imposed against violators even though they lacked any wrongful intent.

Liability Traditionally Has Been Imposed Against Violators Even Though They