If an issuer makes successive sales within a limited period of time,the SEC may __________ the successive sales,resulting in the loss of a private-offering exemption.
A) restrict
B) register
C) integrate
D) qualify

Question

Quizplus · Accepted Answer

The SEC may integrate or combine the amount of securities sold in multiple offerings within a limited period of time to determine whether the issuer has exceeded the maximum amount of securities allowed to be sold in a private offering. If the maximum is exceeded, the issuer may lose their exemption from registration under Regulation D and be required to register the offering with the SEC.

If an Issuer Makes Successive Sales Within a Limited Period