Who is Regulated in a Securities Issuance?
Businesses and Individuals Subject to Securities Laws
Written by Jason Gordon
Updated at September 25th, 2021
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Table of Contents
Who are the parties regulated in an offer to sell securities?Discussion QuestionAcademic ResearchWho are the parties regulated in an offer to sell securities?
The 33 Act regulates offers to sell securities by a number of individuals, including the issuer, underwriter, controlling party, or sales representative. The issuer is the individual or business organization offering a security for sale to the public. Underwriters are individuals participating in the original distribution of securities by selling such securities for the issue or by guaranteeing their sale. A controlling party is one who controls or is controlled by the issuer, such as a major stockholder of a corporation. A sales representative is anyone who contracts with a purchaser or who is a motivating influence that causes the purchase transaction to occur.
Next Article: Disclosure Documents in a Securities Issuance Back to: SECURITIES LAW
Related Topics
- Securities Act of 1933
- What is an Offer to Sell securities?
- Who are the parties regulated in an offer to sell securities?
- What are the primary disclosure documents required in an offer to sell securities?
- Red Herring Prospectus (Securities) Definition
- Registration of Securities
- What is an issuer allowed to do at each stage of the registration process?
- How are issuers classified for purposes of the registration and offering process?
- What is an issuer allowed to do during the Pre-filing Period?
- What are the limitations on the issuer during the Post-filing, Waiting Period?
- What is an issuer allowed to do during the Post-Effective Period?
- What is an Emerging-Growth Company?
- What type of information must an issuer disclose?
- What laws govern the mechanics of disclosure in a securities offering?
- Deficiency Letter (Securities Law)
Discussion Question
Why do you think that the securities laws regulate the conduct of such a wide variety of sellers or securities? How does regulating the conduct of these individuals align with the objectives of the securities laws?
