Questions tagged [sec]
United States Securities and Exchange Commission (SEC) and U.S. regulation of financial securities and transactions
41
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3
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196
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Duty to disclose to shareholder vs. confidential information
I was talking with friends about Apple switching from Intel CPUs to their own, and an interesting question popped up.
Since we're not privy to any of the details, this is purely speculative and out of ...
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1
answer
73
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Low-Ball Buyout Offers in Multi-Class Share Structures: Protecting the Interests of Series A Stockholders
In USA listed-stock (even ADR), when there are two series (classes) of stocks: A (common) and B. Say, series B is not tradable but has above 90% of voting power despite the number of shares are much ...
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2
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1
answer
74
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Is the Howey test pertaining to the source of profits or the receiving of profits?
The Howey test states:
"investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others"
Is this "profits to be derived from ...
- 183
6
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1
answer
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Would a poker buyin share voucher be a "security"?
Hello I am trying to learn more about securities and really confused by the laws regarding unregistered securities in the US. NJ state if that helps too. I made a scenario and I am needing help to ...
- 183
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0
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Does an RIA need to keep any paper work when an order is not filled
A RIA (registered investment advisor) places an order to buy some stock for a customer in the customer's account. He has discretion on the account. It is a limit order good for the day. The order is ...
- 1,221
2
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2
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186
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Does non-objectively justifiable optimism constitute insider trading?
As a hypothetical:
Company A is a competitor of Company B. Management of Company A thinks that Company A is so much better than Company B that Company B will soon go out of business. After getting ...
-2
votes
1
answer
98
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500+ multi member LLC, Non SEC registration needed, avoid classification as Investment Club
Let's say that I want to open a multi member LLC without needing SEC registration but staying compliant, for that case I'll appreciate you can help me with some questions please.
Let's say that the ...
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0
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Is it legal, with no licensure, to sell subscriptions to a blog offering opinions on future stock prices, even if the opinions are non-individualized?
To elaborate, let us take an instance where price predictions would be derived from computer models, and where predictions are disclaimed as being "opinions rather than financial advice".
...
- 19
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3
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665
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Can a social security card be used/required as identification?
A FINRA-regulated institution is restricting my account on suspicion of identity theft and requiring that I give them a copy of my social security card which I of course don't have because what use ...
0
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2
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218
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Legality of inviting investors via email
I would like to email an invitation for investment to 10 potential investors. Is it legal for the owner of a private C-corporation to recruit potential investors via email?
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2
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253
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Are gift cards considered currency or an object?
In the eyes of the IRS, are gift cards viewed as an object or as currency? Like if I were to accept gift cards as payment for items I sell in an online store, am I accepting dollars or am I trading ...
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1
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202
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Does the SEC/FINRA have the legal authority to block a SPAC merger if it doesn't violate antitrust laws?
On October 20th, 2021, Digital World Acquisition (DWAC) announced a definitive merger agreement with Trump Media and Technology Group. However, in early December, it was revealed that the SEC and ...
- 538
2
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1
answer
183
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Is it still insider trading if from the outside with no breach of trust?
SEC Rule 10B5-1 prohibits:
the purchase or sale of a security of any issuer, on the basis of
material nonpublic information about that security or issuer, in
breach of a duty of trust or confidence ...
- 155
1
vote
2
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Buying back shares and insider Trading
Imagine the CEO of a major corporation knows that in a few days knows the corporation will be issuing an earnings report that will be above expectations. As such, he believes the
price of the stock ...
- 1,221
0
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1
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Does a cryptocurrency trading platform not require licensing if it does not offer trade of securities?
The article SEC Charges EtherDelta Founder With Operating an Unregistered Exchange states that:
Over an 18-month period, EtherDelta's users executed more than 3.6 million orders for ERC20 tokens, ...
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