Jones v. Securities & Exchange Commission

This case arises under “The Securities Act of 1933,” c. 38, 48 Stat. 74, U. S. C. Title 15, § 77a et seq., as amended by act of June 6, 1934, c. 404, 48 Stat. 881. Prior to the *10amendment, the act was administered by the Federal Trade Commission; but by § 210, 48 Stat. 908, the administration was transferred to the respondent.

The act, § 2 (4), defines the term “issuer” as including every person who issues or proposes to issue any security, with certain exceptions. Section 6 (a) of the act provides—“Any security may be registered with the Commission under the terms and conditions hereinafter…