The Securities Act of 1933 has two objectives:
(1) "Require that investors receive financial and other significant information about securities being offered for public sale;" and
(2) "Prohibit deceit, misrepresentations, and other fraud in the sale of securities."
The Securities Act of 1933 requires the registration of securities to enable disclosure of important financial information. Some securities exempted from the registration requirement include:
(1) Private offerings to a limited number of persons or institutions;
(2) Intrastate offerings;
(3) Offerings of limited size; and
(4) Securities of municipal, state, and federal governments.
Link to the Regulation: http://legcounsel.house.gov/Comps/Securities%20Act%20Of%201933.pdf
Helpful Link: https://www.sec.gov/answers/about-lawsshtml.html