47-31B-506. Misrepresentations concerning registration or exemption.
The filing of an application for registration, a registration statement, a notice filing under this chapter, the registration of a person, the notice filing by a person, or the registration of a security under this chapter does not constitute a finding by the director that a record filed under this chapter is true, complete, and not misleading. The filing or registration or the availability of an exemption, exception, preemption, or exclusion for a security or a transaction does not mean that the director has passed upon the merits or qualifications of, or recommended or given approval to, a person, security, or transaction. It is unlawful to make, or cause to be made, to a purchaser, customer, client, or prospective customer or client a representation inconsistent with this section.
Source: SL 2004, ch 278, ยง34.
Structure South Dakota Codified Laws
Chapter 31B - Uniform Securities Act Of 2002
Section 47-31B-101 - Short title.
Section 47-31B-102 - Definitions.
Section 47-31B-103 - References to federal statutes.
Section 47-31B-104 - References to federal agencies.
Section 47-31B-105 - Electronic records and signatures.
Section 47-31B-201 - Exempt securities.
Section 47-31B-202 - Exempt transactions.
Section 47-31B-203 - Additional exemptions and waivers.
Section 47-31B-204 - Denial, suspension, revocation, condition, or limitation of exemptions.
Section 47-31B-301 - Securities registration requirement.
Section 47-31B-302 - Notice filing.
Section 47-31B-303 - Securities registration by coordination.
Section 47-31B-304 - Securities registration by qualification.
Section 47-31B-305 - Securities registration filings.
Section 47-31B-306 - Denial, suspension, and revocation of securities registration.
Section 47-31B-307 - Waiver and modification.
Section 47-31B-401 - Broker-dealer registration requirement and exemptions.
Section 47-31B-402 - Agent registration requirement and exemptions.
Section 47-31B-403 - Investment adviser registration and exemptions.
Section 47-31B-404 - Investment adviser representative registration requirement and exemptions.
Section 47-31B-405 - Federal covered investment adviser notice filing requirement.
Section 47-31B-407 - Succession and change in registration of broker-dealer or investment advisor.
Section 47-31B-410 - Filing fees.
Section 47-31B-411 - Postregistration requirements.
Section 47-31B-501 - General fraud.
Section 47-31B-502 - Prohibited conduct in providing investment advice.
Section 47-31B-503 - Evidentiary burden.
Section 47-31B-504 - Filing of sales and advertising literature.
Section 47-31B-505 - Misleading filings.
Section 47-31B-506 - Misrepresentations concerning registration or exemption.
Section 47-31B-507 - Qualified immunity.
Section 47-31B-508 - Criminal penalties.
Section 47-31B-509 - Civil liability.
Section 47-31B-510 - Rescission offers.
Section 47-31B-601 - Administration.
Section 47-31B-602 - Investigations and subpoenas.
Section 47-31B-603 - Civil enforcement.
Section 47-31B-604 - Administrative enforcement.
Section 47-31B-605 - Rules, forms, orders, interpretive opinions, and hearings.
Section 47-31B-606 - Administrative files and opinions.
Section 47-31B-607 - Public records--Confidentiality.
Section 47-31B-608 - Uniformity and cooperation with other agencies.
Section 47-31B-609 - Judicial review.
Section 47-31B-610 - Jurisdiction.
Section 47-31B-611 - Service of process.
Section 47-31B-612 - Severability clause.
Section 47-31B-703 - Application of chapter to existing proceeding and existing rights and duties.