European Community
Article Abstract:
Securities transactions exempt from European Community (EC) registration and disclosure requirements are discussed in the context of public offers of securities. EC securities regulation consists of Directives which are aimed at unifying each member state's transactional policies to stimulate mutual EC member investing and foreign investing. Though the Directives classify which transactions will be exempt and which will not, the failure of member states to agree on what constitutes a public offer of securities threatens to undermine a unified EC approach.
Publication Name: University of Pennsylvania Journal of International Business Law
Subject: Law
ISSN: 0891-9895
Year: 1993
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United Kingdom
Article Abstract:
The UK's securities regulation system is extensive and consists of common law, statutory law and efforts to comply with EC Directives aimed at facilitating international investments. Both foreign and UK companies are required to comply with registration and disclosure laws for public offers of securities. Investment solicitations are also regulated, requiring authorized agents. Private offers, defined as those between professionals and certain offers by and between private companies, are exempted from registration and disclosure requirements.
Publication Name: University of Pennsylvania Journal of International Business Law
Subject: Law
ISSN: 0891-9895
Year: 1993
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United States
Article Abstract:
Securities transactions are comprehensively regulated under US law under the Securities and Exchange Act (SEA) as overseen by the Securities and Exchange Commission. In general, all securities offers and sales fall within the scope of the SEA's registration and disclosure requirements, and only securities of private, or closely-held corporations, are exempted. Fraudulent misrepresentation and trading on insider information is proscribed for both publicly and privately traded securities.
Publication Name: University of Pennsylvania Journal of International Business Law
Subject: Law
ISSN: 0891-9895
Year: 1993
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