Securities Act of 1933

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The Securities Act of 1933 was adopted May 27, 1933, ch. 38, title I, §1, of the 73rd Congress; compiled at 48 Stat. 74; and codified as 15 U.S.C. 77a to 77bbbb.

It was enacted in response to the glaring deficiencies in US financial market regulation which caused the market crash of 1929 and the subsequent Great Depression.

Title 15 – United States Code – Commerce and Trade

Chapter 2A – Securities and Trust Indentures

Secs. 77a to 77bbbb.

[optional link to www.govinfo.gov – details of statute history and downloads]

[optional link to www.govinfo.gov – text of statute]

[optional link to www.govinfo.gov – pdf of statute]

Subchapter I—Domestic Securities

Secs. 77a to 77bb

77a. Short title.

77b. Definitions; promotion of efficiency, competition, and capital formation.

77b–1. Swap agreements.

77c. Classes of securities under this subchapter.

77d. Exempted transactions.

77d–1. Requirements with respect to certain small transactions.

77e. Prohibitions relating to interstate commerce and the mails.

77f. Registration of securities.

77g. Information required in registration statement.

77h. Taking effect of registration statements and amendments thereto.

77h–1. Cease-and-desist proceedings.

77i. Court review of orders.

77j. Information required in prospectus.

77k. Civil liabilities on account of false registration statement.

77l. Civil liabilities arising in connection with prospectuses and communications.

77m. Limitation of actions.

77n. Contrary stipulations void.

77o. Liability of controlling persons.

77p. Additional remedies; limitation on remedies.

77q. Fraudulent interstate transactions.

77r. Exemption from State regulation of securities offerings.

77r–1. Preemption of State law.

77s. Special powers of Commission.

77t. Injunctions and prosecution of offenses.

77u. Hearings by Commission.

77v. Jurisdiction of offenses and suits.

77w. Unlawful representations.

77x. Penalties.

77y. Jurisdiction of other Government agencies over securities.

77z. Separability.

77z–1. Private securities litigation.

77z–2. Application of safe harbor for forward-looking statements.

77z–2a. Conflicts of interest relating to certain securitizations.

77z–3. General exemptive authority.

77aa. Schedule of information required in registration statement.

Subchapter II—Foreign Securities

Secs. 77bb to 77mm [Ed. note – Due to the length of this section the reader is directed to follow the links above to www.govinfo.gov for the complete text.]

Subchapter III—Trust Indentures

Secs. 77aaa to 77bbbb [Ed. note – Due to the length of this section the reader is directed to follow the links above to www.govinfo.gov for the complete text.]

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Securities Act of 1933

The Securities Act of 1933 was adopted May 27, 1933, ch. 38, title I, §1, of the 73rd Congress; compiled at 48 Stat. 74; and codified as 15 U.S.C. 77a to 77bbbb.

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