The Securities Act of 1933 is a foundational U.S. federal law governing the offer and sale of securities, requiring registration of securities offerings unless an exemption applies and imposing liability for material misstatements or omissions. In venture fundraising, the Securities Act of 1933 drives reliance on private offering exemptions like Regulation D, and Securities Act of 1933 compliance is a key diligence focus for later financings and exits.
