Series 82: Other Securities Transactions Exempt From Registration

Other Securities Transactions Exempt from Registration

Under Section 5 of the Securities Act of 1933, it is unlawful to offer or sell any security unless a registration statement is in effect. Section 4(a) of the Securities Act offers an exemption to this law for most transactions conducted in the ordinary course of business in the secondary market. This exemption typically does not apply to issuers or underwriters. It does, however, apply to dealers