1 19 with the SEC The 1933 Securities Act requires that nonexempt organizations file that for the issuance of new securities. O a tombstone ad a registration statement. Articles of Incorporation. a complaint 2 1$ Ace Technologies, Inc., wants to issue securities for sale to the public. With respect to this issue, the essential purpose of the Securities Act of 1933 is to: regulate the securities markets. O proscribe mass sell-offs. provide for proxy solicitation. require disclosure of certain financial information related to the initial sale of securities to the public. 3 1s The purpose of a prospectus is to: enable the SEC to classify the type of security being offered. register a security with the SEC. enable investors to evaluate the risks involved in purchasing a security and make an informed investment decision. set the face value of the security issue. 4 1s Lee, a salesperson for Macro Corporation, learns that Macro will increase the dividend it pays to shareholders. Lee buys 1,000 shares of Macro stock. When the price increases, Lee sells his shares for a profit. Lee would not be liable for insider trading if the information about the dividend was: O public before he bought the stock. material when he sold the stock. O public after he bought the stock. too speculative when he bought the stock