An act to provide full and fair disclosure of the character of securities sold in interstate and foreign commerce and through the mails, and to prevent frauds in the sale thereof, and for other purposes.
Nicknames
Securities Act 1933 Act '33 Act
Enacted by
the 73rd United States Congress
Effective
May 27, 1933
Citations
Public law
Pub. L.Tooltip Public Law (United States) 73–22
Statutes at Large
48 Stat. 74
Codification
U.S.C. sections created
15 U.S.C. § 77a et seq.
Legislative history
Signed into law by President Franklin D. Roosevelt on May 27, 1933
United States Supreme Court cases
SEC v. W. J. Howey Co., 328 U.S. 293 (1946)
SEC v. Ralston Purina Co., 346 U.S. 119 (1953)
Rodriguez de Quijas v. Shearson/American Express, 490 U.S. 477 (1989)
Liu v. SEC, No. 18-1501, 591 U.S. ___ (2020)
Slack Technologies, LLC v. Pirani, No. 22-200, 598 U.S. ___ (2023)
The Securities Act of 1933, also known as the 1933 Act, the Securities Act, the Truth in Securities Act, the Federal Securities Act, and the '33 Act, was enacted by the United States Congress on May 27, 1933, during the Great Depression and after the stock market crash of 1929. It is an integral part of United States securities regulation. It is legislated pursuant to the Interstate Commerce Clause of the Constitution.
It requires every offer or sale of securities that uses the means and instrumentalities of interstate commerce to be registered with the SEC pursuant to the 1933 Act, unless an exemption from registration exists under the law. The term "means and instrumentalities of interstate commerce" is extremely broad and it is virtually impossible to avoid the operation of the statute by attempting to offer or sell a security without using an "instrumentality" of interstate commerce. Any use of a telephone, for example, or the mails would probably be enough to subject the transaction to the statute.
and 22 Related for: Securities Act of 1933 information
with the SecuritiesActof1933, which regulates these original issues, the Securities Exchange Actof 1934 regulates the secondary trading of those securities...
of self-regulatory organizations like FINRA to oversee broker-dealers. The SecuritiesActof1933 requires public securities offerings, including of investment...
and securities firms. That limited meaning of the term is described in the article on Glass–Steagall Legislation. The Banking Actof1933 (the 1933 Banking...
British merchant bank. Congress enacted the SecuritiesActof1933 in the aftermath of the stock market crash of 1929 and during the ensuing Great Depression...
rules revising Rule 144 under the SecuritiesActof1933, which regulates the resale of restricted securities and securities held by affiliates. The amendments...
Congress passed the Glass–Steagall Banking Actof1933, the SecuritiesActof1933, and the Securities Exchange Actof 1934. Following the 1929 Wall Street...
Yankee Bonds are administered by the SecuritiesActof1933. Issuers register Yankee Bonds with the Securities and Exchange Commission (SEC) before offering...
to the SecuritiesActof1933, the securities offered do not have to be registered with the Securities and Exchange Commission if the issuance of the securities...
Hear Appeal Regarding SecuritiesAct Claims in Direct Listings". JD Supra. "Supreme Court To Weigh In On SecuritiesActOf1933 Standing In Slack Technologies...
have sold securities without registration under the SecuritiesActof1933 in an offering based on a claim of exemption under Rule 504 or 506 of Regulation...
projects from 1933 to 1934. The SecuritiesActof1933 was enacted to prevent a repeated stock market crash. The controversial work of the National Recovery...
the purchase and sale ofsecurities traded on national securities exchanges and in interstate over-the-counter markets, securities issued by companies engaged...
Ameritrade Holding Corporation Pursuant to Rule 425 Under the SecuritiesActof1933". U.S. Securities and Exchange Commission. October 12, 2004. Ian, Austen...
A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities...
a financial statement or other formal document submitted to the U.S. Securities and Exchange Commission (SEC). Public companies, certain insiders, and...
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