Action Needed to Better Protect Investors from Fraud in Purchasing Privately Placed Securities

摘要

Investors are being defrauded of hundreds of millions of dollars--sometimes their life savings--by buying securities purported to be privately placed and therefore exempt from registration with the Securities and Exchange Commission. GAO offers several options for the Congress to consider in amending the Securities Act of 1933 to better protect investors while continuing to allow legitimate businesses to raise capital through privately placed securities.