What obligations does a securities professional have to investigate the securities they sell?
MultiRegion, United States of America
The following excerpt is from Securities & Exchange Comm'n v. Dain Rauscher, 254 F.3d 852 (9th Cir. 2001):
Ough was a securities professional. A securities professional has an obligation to investigate the securities he or she offers to customers. See Hanly v. SEC, 415 F.2d 589, 595-96 (2d Cir. 1969) (holding that brokers and salesmen are
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