General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 15c1-2 -- Fraud and Misrepresentation
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 act, practice, or course of business
which operates or would operate as a fraud or deceit upon any person.
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.
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.
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