The basic principles governing the preparation of a public offering prospectus are as follows:
- All of the content recorded in a prospectus shall be detailed, truthful, and clear and unambiguous. The wording shall be concise and easy to understand, and may not contain misrepresentations, nondisclosures, or omissions.
- Information published in a prospectus shall be timely and up to date. Trades or other significant events occurring prior to printing that could influence the judgment of beneficial owners shall be disclosed.