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The SEC allows for a private placement exemption because:

The SEC allows for a private placement exemption because:

a) registration of "blue chip" securities is simply not necessary

b) small investors have sufficient information about the background of such offerings so they need this additional protection

c) small issuers need a break in the costs of the process to be able to compete effectively with large securities issuers

d) purchasers of these securities are sophisticated and therefore more able to protect themselves when purchasing unregistered securities

e) issuers need greater flexibility when dealing with large numbers of small investors

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d) purchasers of these securities are sophisticated... View the full answer

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