BY CHRISTOPHER L. BORSANI, ESQ.
An undeniable fact in securities regulation law is that if a transaction is a security, and assuming none of the exemptions of 15 U.S.C. 77c apply, then that security must be registered with the Securities and Exchange Commission (“SEC” or “the Commission”). Whether or not the registration requirements of the Securities Act of 1933 (“Securities Act” or “1933 Act”) will be triggered rests with one main issue: whether a “security,” as defined by the statute, is present. “Congress’ purpose in enacting the securities laws was to regulate investments, in whatever form they are made and by whatever name they are called.”
Continue Reading>
