Consider the following supply and demand schedule: 
Definitions:
SEC Authority
The legal power granted to the U.S. Securities and Exchange Commission to regulate and supervise the securities industry, including enforcing laws against market manipulation and fraud.
Whistleblowing
The act of exposing any kind of information or activity that is deemed illegal, unethical, or not correct within an organization.
Exempt Offering
A securities offering exempt from registration with the SEC, often under Regulation D.
Federal Securities Laws
Laws and regulations enacted by the federal government to regulate the sale and distribution of securities to protect investors from fraud.
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