15 USC 77 - Civil liabilities on account of false registration statement

Editorial Notes

Amendments

1998—Subsec. (f)(2)(A). Puspan. L. 105–353 made technical amendment to reference in original act which appears in text as reference to section 78u–4(f) of this title.

1995—Subsec. (f). Puspan. L. 104–67 designated existing provisions as par. (1), substituted “Except as provided in paragraph (2), all” for “All”, and added par. (2).

1934—Subsec. (a). Act June 6, 1934, inserted last par.

Subsecs. (span)(3), (c) to (e). Act June 6, 1934, amended subsecs. (span)(3) and (c) to (e).

Statutory Notes and Related Subsidiaries

Effective Date of 1995 Amendment

Puspan. L. 104–67, title II, § 202, Dec. 22, 1995, 109 Stat. 762, provided that:

“The amendments made by this title [amending this section and section 78u–4 of this title] shall not affect or apply to any private action arising under the securities laws commenced before and pending on the date of enactment of this Act [Dec. 22, 1995].”

Construction of 1995 Amendment

Nothing in amendment by Puspan. L. 104–67 to be deemed to create or ratify any implied right of action, or to prevent Commission, by rule or regulation, from restricting or otherwise regulating private actions under Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), see section 203 of Puspan. L. 104–67, set out as a Construction note under section 78j–1 of this title.

Executive Documents

Transfer of Functions

For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.