17 C.F.R. § 240.15c1-2

Fraud and misrepresentation

Read at: eCFRecfr.gov CornellLII GovInfogovinfo.gov CasesGoogle Scholar

(a) The term manipulative, deceptive, or other fraudulent device or contrivance, as used in section 15(c)(1) of the Act (section 2, 52 Stat. 1075; 15 U.S.C. 78o(c)(1), is hereby defined to include any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

(b) The term manipulative, deceptive, or other fraudulent device or contrivance, as used in section 15(c)(1) of the Act, is hereby defined to include any untrue statement of a material fact and any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading, which statement or omission is made with knowledge or reasonable grounds to believe that it is untrue or misleading.

(c) The scope of this section shall not be limited by any specific definitions of the term “manipulative, deceptive, or other fraudulent device or contrivance” contained in other rules adopted pursuant to section 15(c)(1) of the act.

(Sec. 2, 52 Stat. 1075; 15 U.S.C. 78o) Cross Reference:

For regulation prohibiting employment of manipulative and deceptive devices as such term is used in section 15 of the Act, by any broker or dealer, see § 240.10b-3.

[13 FR 8205, Dec. 22, 1948]

Notes of Decisions

Cited in 3 cases, 1959–1968 · leading case: Los Angeles Trust Deed & Mortg. Exch., Trust Deed & Mortg. Exch., Trust Deed & Mortg. Markets, David Farrell, Oliver, J. Farrell, Roy A. Bonner, Thomas Wolfe, Jr. & Stanley C. Marks, v Sec. & Exch. Comm'n, 264 F.2d 199 (9th Cir. 1959).

Sort: Relevance Newest Treatment

Los Angeles Trust Deed & Mortg. Exch., Trust Deed & Mortg. Exch., Trust Deed & Mortg. Markets, David Farrell, Oliver, J. Farrell, Roy A. Bonner, Thomas Wolfe, Jr. & Stanley C. Marks, v Sec. & Exch. Comm'n, 264 F.2d 199 (9th Cir. 1959). “78o(c)(1), and rule, 17 C.F.R. 240.15c1-2. The same defendants in Count V are charged with use of the mails and means and instrumentalities in interstate commerce to sell such securities described above, without registering as a broker or dealer, in alleged violation of 15(a) of…”

Sec. & Exch. Comm'n v. Midland Basic, Inc., 283 F. Supp. 609 (D.S.D. 1968). “” 17 C.F.R. 240.15c1-2. As was noted, use of the mails was made in effecting transactions of Midland Basic’s securities.”

Associated Sec. Corp. v. Sec. & Exch. Comm'n, 293 F.2d 738 (10th Cir. 1961). “9 17 C.F.R. 240.15c1-2 10 15 U.S.C.A. 78 o 3(b) (4).”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.