A willful and fraudulent violation of the uniform securities act occurs if a deceptive sales presentation is made to a client, but no sale results. Or if a client is given a misleading sales presentation but no transaction occurs, an intentional and fraudulent violation of the uniform securities act has taken place.
If someone is being "deceptive," it means they intentionally misrepresented or omitted information about a material fact in an effort to persuade the client to execute a securities transaction. This is fraud. Whether the trade actually took place is irrelevant; the Act was nonetheless broken. There is no "willful purpose" if the agent was unaware of crucial information that was withheld from the consumer. As long as the investment is appropriate, it is OK to recommend a business that is in a perilous financial situation. It's acceptable to leave out information from a presentation if it is not necessary to comprehend the benefits and hazards of a particular investment.
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