Which of the following is true of the criminal liabilities under the Securities Act of 1933?
A. The criminal provisions of the 1933 Act specifically mention that they will be used against accountants.
B. The 1933 Act makes it a crime to willfully make a false or misleading statement in reports that are required to be filed under the act.
C. A willful misrepresentation, including an omission, in a registration statement is made a criminal act.
D. A willful violation of Rule 10b-5 is a crime under the 1933 Act.
Answer: C
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