§ 317.3. Prohibited practices.
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/us/cfr/t16/s§ 317.3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It shall be unlawful for any person, directly or indirectly, in connection with the purchase or sale of crude oil, gasoline, or petroleum distillates at wholesale, to:
(a)Knowingly engage in any act, practice, or course of business---including the making of any untrue statement of material fact---that operates or would operate as a fraud or deceit upon any person; or
(b)Intentionally fail to state a material fact that under the circumstances renders a statement made by such person misleading, provided that such omission distorts or is likely to distort market conditions for any such product.
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§ 317.3
Prohibited practices.
Fed. Reg.×1
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