Rule 10b-5

Rule 10b-5 is the SEC's general antifraud rule, adopted under Exchange Act section 10(b). It prohibits any device, scheme or artifice to defraud, any untrue statement of material fact, and any act or practice that operates as a fraud in connection with the purchase or sale of a security.

law and enforcement · updated 2026-11-06

See also

• Section 10(b) — Section 10(b) of the Securities Exchange Act of 1934 is the statutory hook for the SEC's antifraud rules. It prohibits the use of …
• Scienter — Scienter is the mental state of intending to deceive, manipulate or defraud. It is a required element of a Rule 10b-5 claim, and i…
• Materiality — Information is material if a reasonable investor would consider it important in deciding whether to buy or sell. Materiality is an…

Terms that refer here

CFTC Rule 180.1 · Manipulative device · Materiality · Misstatement · Recklessness · Scienter · Section 10(b) · Section 17(a)

Back to the full glossary — 282 defined terms.