The Restatement (Third) of Torts, which some state courts have adopted, tends to abandon the traditional distinction between negligence and strict liability in design defect cases

Accountants cannot be held criminally liable for material irregularities in financial statements prepared for registration statements

Indicate whether the statement is true or false

The Securities and Exchange Commission (SEC) has the power to file criminal charges and award punishment for violations that come under Section 32(a) of the Securities Exchange Act of 1934

Indicate whether the statement is true or false