What does the Securities Act of 1933 require for nonexempt securities?

The Securities Act of 1933 was designed to ensure transparency in the securities markets and protect investors from fraud. For nonexempt securities, the Act requires that issuers file a registration statement with the Securities and Exchange Commission (SEC). This registration statement provides essential information about the company, its business operations, and the securities being offered, including financial statements and risk factors related to the investment. The registration process helps to fulfill the Act’s objective of promoting full disclosure and preventing misleading information during the sale of securities to the public.

The other options provided do not reflect the specific requirements outlined by the Securities Act of 1933 for nonexempt securities. Disclosure of personal financial history is not mandatory for registration but can be part of the broader requirements depending on the context. The Federal Reserve does not play a direct role in the approval of securities, as that is the purview of the SEC. Market value assessments may be performed, but they are not a direct requirement of the Securities Act. Therefore, registration with the SEC is the key requirement for nonexempt securities under the Act.