15-U.S.C.-78Z
§78Z – Unlawful Representations
Pathway
Title 15 > Chapter 2B > Section 78z
Details
- Reference: Section 78z
- Legend: §78Z – Unlawful Representations
- USCode Year: 2013
Provision Content
No action or failure to act by the Commission or the Board of Governors of the Federal Reserve System, in the administration of this chapter shall be construed to mean that the particular authority has in any way passed upon the merits of, or given approval to, any security or any transaction or transactions therein, nor shall such action or failure to act with regard to any statement or report filed with or examined by such authority pursuant to this chapter or rules and regulations thereunder, be deemed a finding by such authority that such statement or report is true and accurate on its face or that it is not false or misleading. It shall be unlawful to make, or cause to be made, to any prospective purchaser or seller of a security any representation that any such action or failure to act by any such authority is to be so construed or has such effect.
(June 6, 1934, ch. 404, title I, §26, 48 Stat. 902; Pub. L. 105–353, title III, §301(b)(5), Nov. 3, 1998, 112 Stat. 3236.)
References in Text
This chapter, referred to in text, was in the original this title. See References in Text note set out under section 78a of this title.
Amendments
1998—Pub. L. 105–353 substituted Board of Governors of the Federal Reserve System for Federal Reserve Board.
Transfer of Functions
For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.
U.S. Encyclopedia of Law Coverage
15-U.S.C.-78Q-2 in the Legal Encyclopedia: Trade Law
In this entry about 15-U.S.C.-78Q-2, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.
15-U.S.C.-78O-8 in the Legal Encyclopedia: Securities Exchanges
In this entry about 15-U.S.C.-78O-8, find legal reference material, bibliographies and premiere content related to securities exchanges in the American Encyclopedia of Law, presenting a comprehensive view of the United States securities exchanges-specific issues, written by authorities in the field.
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