La. Admin. Code tit. 10 § XIII-307

Current through Register Vol. 50, No. 11, November 20, 2024

Section XIII-307 - Presentation of Representation of Prospectus

A. The prospectus shall contain the information called for by all items of Schedule A, "Outline of Prospectus" located in §1103 of this Part, required to be answered, except that no reference need be made to inapplicable items, and negative answers to any item may be omitted. None of the other information or documents filed as part of the registration statement need be included in the prospectus.

B. The prospectus should set forth information in a clear concise and understandable manner, free of unnecessary and irrelevant details or technical language. The information shall not be presented in such form as to obscure required information, or information necessary to keep the required information from being incomplete or misleading. The prospectus should not include:

1. references to other companies, not affiliates of the registrant, by way of comparison or in any other manner;

2. puffing of the registrant's history and prospects or of officials' background;

3. the use of colors, designs, or pictures; or

4. any subject matter which goes beyond a fair and factual presentation necessary to disclose the material facts.

C. Unless clearly indicated otherwise, information set forth in any part of the prospectus need not be duplicated elsewhere in the prospectus. Where it is deemed necessary or desirable to call attention to such information in more than one part of the prospectus, this may be accomplished by appropriate cross-references.

D. Every prospectus shall include in the forepart thereof a reasonably detailed table of contents showing the subject matter of the various sections or subdivisions and the page number of which each section or subdivision begins.

E. All pages in the prospectus must be numbered consecutively. If any page of a prospectus should be left blank then the following statement should appear centered on that page in capitals and parenthesis:

(THIS PAGE INTENTIONALLY LEFT BLANK)

La. Admin. Code tit. 10, § XIII-307

Adopted by the Commissioner of Securities, November 9, 1971.

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:706(B).