It is unlawful for any person to make or cause to be made, in any document filed with the Administrator or in any proceeding under this Act, any statement which is, at the time and in the light of the circumstances under which it is made, false or misleading in any material respect.

SOURCE: GC § 45404.

§ 46405. Unlawful Representations Concerning Registration or
Exemption.

(a) Neither (1) the fact that an application for registration under Chapter II or a registration statement under Chapter III has been filed nor (2) the fact that a person or security is effectively registered constitutes a finding by the Administrator that any document filed under this Act is true, complete, and not misleading. Neither any such fact that an exemption or exception is available for a security or a transaction means that the Administrator has passed in any way upon the merits or qualifications of, or recommended or given approval to, any person, security, or transaction.

(b) It is unlawful to make, or cause to be made, to any prospective purchaser, customer, or client any representation inconsistent with Subsection (a).

SOURCE: GC § 45405.

COL 052809
22 Guam Code Ann. BUSINESS REGULATIONS
CH. 46 UNIFORM SECURITIES ACT