What 15 U.S.C. 80b-6 - Prohibited Transactions by Investment Advisers (Section 206) requires
15 U.S.C. 80b-6 (Section 206 of the Investment Advisers Act of 1940) makes it unlawful for any investment adviser, by use of the mails or any means of interstate commerce, directly or indirectly, to employ any device, scheme or artifice to defraud any client or prospective client (paragraph (1)); to engage in any transaction, practice or course of business which operates as a fraud or deceit upon any client or prospective client (paragraph (2)); acting as principal for its own account, knowingly to sell any security to or purchase any security from a client, or acting as broker for a person other than the client, knowingly to effect a sale or purchase for the client, without disclosing in writing the capacity in which it is acting and obtaining the client's consent before completion of the transaction (paragraph (3)); or to engage in any act, practice or course of business which is fraudulent, deceptive or manipulative, as defined by SEC rules (paragraph (4)).
Pillar: Banking & Global Finance · Authority: US Securities and Exchange Commission / Department of Justice · Version: 1.0.0 · Last updated:
Primary source: https://www.govinfo.gov/link/uscode/15/80b-6
SHA-256 integrity: a1e60c242ede9682aec8dee97f4efb9125ccd32d3ce3a9c2b6bfc3438566f12c
Primary Citations — 5 traced to source
- 15 U.S.C. 80b-6 - Prohibited transactions by investment advisers - statutory text at https://www.govinfo.gov/link/uscode/15/80b-6
- 15 U.S.C. 80b-6(1) - to employ any device, scheme or artifice to defraud any client or prospective client
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