The Securities Act of 1933 is a one-time disclosure statute, although some of its liability provisions purport to cover all fraudulent sales of securities.

Question

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The Securities Act of 1933 requires issuers to make certain disclosures about securities being offered for sale, but it does not require ongoing reporting obligations. The liability provisions of the act can be used to pursue claims related to fraudulent sales of securities, even after the initial offering.

The Securities Act of 1933 Is a One-Time Disclosure Statute