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Which of the following statements is false about marketing securities on the internet? - SEC regulations do not apply to online advertising and securities transactions.

Which of the following statements is false about marketing securities on the internet?
- SEC regulations do not apply to online advertising and securities transactions.
- The SEC has issued cease-and-desist orders against companies that illegally offered free stock on their websites because they had not registered their stocks with the SEC.
- Companies are permitted to sell securities online in an initial public offering (IPO).
- Some websites allow customers to buy and sell securities online.
- The SEC maintains a database to help investors access information about IPOs.

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