Labels:book | reckoner | sky | tree | windowpane OCR: 1. The Scienter Standard Applied Most ledge Courts, Which Reuuires Actual Know or Conscious Intent For Aiding nd Abetting Liahility Absent Duty T Disctose gainst Cen- To Act, Would *N Permit Lisbility tral Bank The courts appeals uniformly require three clements for aiding and abetting 1{{b} violation: (T). the existenee the of securities MA[ violation bi the primaty {as this opposed violation aiding te and part abetting) party: 'knowledge suhst tantial on the aider and abettor; and assistance' the aider pur abettor in the achievement of 922 the primary violation. Carnfeld. F.2d 999 Cir (2d Cir. 1980}. The Seeond, Third, Fourth. and Eighth cuits use this test essentially verhatim. See, Landy 16 FDIC 486 F.2d 139 162-63 (3 Cir. 1973}, cert denied, 4th U.S 960 (1974): Schatz Rosenberg. 943 F ...
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