Federal Securities Code: Tentative Draft No. 1-

1st sentence 2d Cir Act Rule action addition adviser amendment amount apply appropriate authority bank broker buyer certificate civil liability Clause Code COMMENT Commission concept concerned connection consideration considered contain contract corporation course court covered damages dealer defendant defined definition designed determined directors distribution draft effect event exchange exemption extent fact false federal filing fraud give Holding Institute interest investment company issued issuer language liability limited Loss material means measure ment misrepresentation offering statement officer otherwise period permit person plaintiff present prospectus provisions proxy purchase question reasonable reference reflected registration statement Regulation request respect result sell solicitation SOURCE specified statutes tender tion Torts trading transactions Trust Ind underwriter unless violation voting York