The Securities Act of 1934 would focus on

A. Luke, a purchaser of common stock on a public exchange from another investor.

B. Matthew, a purchaser of bonds on a public exchange from Laura, another investor.

C. Mark, a purchaser of preferred stock from GHI Corporation, the issuer, in an initial public offering.

D. John, a purchaser of common stock from DEF Corporation, the issuer, in an initial public offering.