DEEN, Judge.
The conduct of both parties to this action has been questionable, and the only issue is upon whom as a matter of public policy the loss must fall. 14 USCA § 78g (c) (1) provides that it shall be unlawful for any broker to extend credit to a customer on any nonexempt security in contravention of the regulations of the Board of Governors of the Federal Reserve System. Regulation T of that system (12 CFR § 220.8 (d)) required at the time of this...
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