A(n) ________ is an exemption from registration which states that securities transactions not made by an issuer, an underwriter, or a dealer do not have to be registered with the SEC.

Question

Quizplus · Accepted Answer

The nonissuer exemption states that securities transactions not made by an issuer, an underwriter, or a dealer do not have to be registered with the SEC. The other choices (intrastate offering exemption, private placement exemption, and regulation A+ offering) refer to specific exemptions that have different criteria and requirements than the nonissuer exemption.

A(n) ________ Is an Exemption from Registration Which States That