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Question
Under the Securities Act of 1933, the registration of securities which are offered to the public in interstate commerce is:
A. directed toward minimizing investor exposure to financially risky securities.
B. not required unless the issuer is a corporation.
C. mandatory unless the cost to the issuer is "prohibitive" as defined in the SEC regulations.
D. required unless the offering or the securities are exempt from registration.
Answer
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C. $20,000 fine and five years' imprisonment.
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