
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC77w]

 
                      TITLE 15--COMMERCE AND TRADE
 
               CHAPTER 2A--SECURITIES AND TRUST INDENTURES
 
                    SUBCHAPTER I--DOMESTIC SECURITIES
 
Sec. 77w. Unlawful representations

    Neither the fact that the registration statement for a security has 
been filed or is in effect nor the fact that a stop order is not in 
effect with respect thereto shall be deemed a finding by the Commission 
that the registration statement is true and accurate on its face or that 
it does not contain an untrue statement of fact or omit to state a 
material fact, or be held to mean that the Commission has in any way 
passed upon the merits of, or given approval to, such security. It shall 
be unlawful to make, or cause to be made to any prospective purchaser 
any representation contrary to the foregoing provisions of this section.

(May 27, 1933, ch. 38, title I, Sec. 23, 48 Stat. 87.)

                          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, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 
1265, set out under section 78d of this title.
