The Tenth Edition covers recent developments in the courts and SEC rulemaking, including 1933 Act registration and broker-dealer regulation developments. In addition to the leading cases and SEC developments, the book has been significantly revised for accessibility, and includes explanatory material to guide the student through this complex maze of regulation. There are problems interspersed throughout the book for teachers using the problem method. The Tenth Edition enables instructors to easily omit or rearrange material.