I. INTRODUCTION Seven statutes r...

I. INTRODUCTION

Seven statutes regulate Federal securities transactions. (1) Congres passed the mostly important of these, the Securities Act of 1933 ("1933 Act") and the Securities Exchange Act of 1934 ("1934 Act"), in rejoinder to fraud in securities markets and a perceived lack of public information about the stock markets. (2) The aim of the statutes is to make secure vigorous market competition by mandating replete and fair disclosure of all material information in the marketplace. (3)

Practitioners should note that this article is limited to federal securities law. Any securities law issue must be analyzed in conjunction with applicable state