Section 5

{
  "id": "MLC-T-LAW-004423",
  "term": "Section 5",
  "field": "Law",
  "definition": "The provision of the Securities Act of 1933 that governs the registration process for public offerings of securities. It prohibits the offer or sale of securities to the public unless a registration statement has been filed with the Securities and Exchange Commission (SEC). This section divides the registration process into three distinct periods: the pre-filing period, the waiting period, and the post-effective period, each with its own rules on permissible activities.",
  "url": "https://mlchart.com/terminology/law/section-5/"
}