15 U.S.C. § 77q : US Code - Section 77Q: Fraudulent interstate transactions

Search 15 U.S.C. § 77q : US Code - Section 77Q: Fraudulent interstate transactions

(a) Use of interstate commerce for purpose of fraud or deceit
It shall be unlawful for any person in the offer or sale of any
securities or any security-based swap agreement (as defined in
section 206B of the Gramm-Leach-Bliley Act) by the use of any means
or instruments of transportation or communication in interstate
commerce or by use of the mails, directly or indirectly -
(1) to employ any device, scheme, or artifice to defraud, or
(2) to obtain money or property by means of any untrue
statement of a material fact or any omission to state a material
fact necessary in order to make the statements made, in light of
the circumstances under which they were made, not misleading; or
(3) to engage in any transaction, practice, or course of
business which operates or would operate as a fraud or deceit
upon the purchaser.
(b) Use of interstate commerce for purpose of offering for sale
It shall be unlawful for any person, by the use of any means or
instruments of transportation or communication in interstate
commerce or by the use of the mails, to publish, give publicity to,
or circulate any notice, circular, advertisement, newspaper,
article, letter, investment service, or communication which, though
not purporting to offer a security for sale, describes such
security for a consideration received or to be received, directly
or indirectly, from an issuer, underwriter, or dealer, without
fully disclosing the receipt, whether past or prospective, of such
consideration and the amount thereof.
(c) Exemptions of section 77c not applicable to this section
The exemptions provided in section 77c of this title shall not
apply to the provisions of this section.
(d) Authority with respect to security-based swap agreements
The authority of the Commission under this section with respect
to security-based swap agreements (as defined in section 206B of
the Gramm-Leach-Bliley Act) shall be subject to the restrictions
and limitations of section 77b-1(b) of this title.