Professional Documents
Culture Documents
Regulation of
Securities,
Corporate
Governance,
and Financial
Markets
McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
The Securities Act of 1933
KEY POINT:
16-2
Howey Test
Investment
Commonality
Profit Expectations
Efforts of Others
16-3
Securities that are Exempt
16-4
Liability for Violations
16-5
The Securities Act of 1934
16-6
Section 10(b)
16-7
Insider Trading
16-8
Private Securities Litigation Reform Act
of 1995
The PSLRA made it more difficult to pursue litigation
under the securities laws based solely on
commentary by the company’s executives.
16-9
The Sarbanes-Oxley Act of 2002
(SOX)
Passed in response to revelations of
corporate fraud and malfeasance in publicly
held companies.
16-10
Substantial Penalties
16-11
learning outcomes checklist
16-12
learning outcomes checklist
16-13
learning outcomes checklist
16-14
learning outcomes checklist
16-15