15 U.S.C. § 77y and 77z–Jurisdiction Of Other Government Agencies Over Securities And Separability Under The Securities Act Of 1933

Dec 16, 2006 | By: Michael J. Hassen

As a resource for the class action defense lawyer who defends against securities class actions, we provide the text of the Securities Act of 1933. Congress provided for the jurisdiction of other governmental agencies over securities and for the severability of the provisions of the Act in 15 U.S.C. § 77y and § 77z, respectively, which provide:

§ 77y. Jurisdiction of other Government agencies over securities

Nothing in this subchapter shall relieve any person from submitting to the respective supervisory units of the Government of the United States information, reports, or other documents that may be required by any provision of law.

§ 77z. Separability

If any provision of this chapter, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this chapter, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.

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