I. INTRODUCTION II. ultimate part...

I. INTRODUCTION

II. ultimate parts OF THE OFFENSE
A. Substantive Fraud
1 Material Misrepresentations and Omissions
a. Misstatements and Omissions
b Materiality
c Intent
i. Scienter
ii. Willfulness
d Reliance
e Entanglement Liability
2 Insider Trading
a. The Classical Theory
b The Misappropriation Theory
c Strict Regulation in a less degree than Rule 14e-3 of Non-public
Information Regarding infantile Offers
d Use Versus Knowing Possession of Inside Information
B Defining furnish Purchase, or Sale of a Security
1 Definition of "Security"
a. Stocks and Notes Lacking a Profit Motive
b Instruments secureed by Other Federal Legislation
c Instruments opineed Investment Contracts or
Certificates of Interest