CITE

    15 USC Sec. 77w                                             01/08/2008

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2A - SECURITIES AND TRUST INDENTURES
    SUBCHAPTER I - DOMESTIC SECURITIES

HEAD

    Sec. 77w. Unlawful representations

STATUTE

      Neither the fact that the registration statement for a security
    has been filed or is in effect nor the fact that a stop order is
    not in effect with respect thereto shall be deemed a finding by the
    Commission that the registration statement is true and accurate on
    its face or that it does not contain an untrue statement of fact or
    omit to state a material fact, or be held to mean that the
    Commission has in any way passed upon the merits of, or given
    approval to, such security. It shall be unlawful to make, or cause
    to be made to any prospective purchaser any representation contrary
    to the foregoing provisions of this section.

SOURCE

    (May 27, 1933, ch. 38, title I, Sec. 23, 48 Stat. 87.)

TRANSFER OF FUNCTIONS

      For transfer of functions of Securities and Exchange Commission,
    with certain exceptions, to Chairman of such Commission, see Reorg.
    Plan No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
    64 Stat. 1265, set out under section 78d of this title.