Criminal Liability Under the 1933 Act

The video explains the roles of the Securities and Exchange Commission (SEC) in bringing civil and criminal actions. It highlights the SEC's ability to initiate civil actions under sections 17, 11, and 12 for fraudulent actions and negligence. Additionally, it discusses how the SEC can collaborate with the Department of Justice (DOJ) under Section 24 to bring criminal charges for intentional violations of securities laws, especially in cases involving deceit or fraud.

What type of actions does the SEC generally not bring?

• Regulatory actions

• Administrative actions

• Criminal actions

• Civil actions

Under which section can the SEC bring civil actions for fraud?

• Section 11

• Section 12

• Section 17

• Section 24

Which section allows the SEC to work with the Department of Justice for criminal actions?

• Section 17

• Section 11

• Section 12

• Section 24

What is required for the SEC and DOJ to bring a criminal action under Section 24?

• Negligence

• Unintentional violation

• Intentional violation

• Administrative error

Who can bring criminal action against a perpetrator for intentional securities law violations?

• Internal Revenue Service

• Federal Trade Commission

• Department of Justice

• Securities and Exchange Commission