deceptive device

A deceptive device refers to any act, practice, or scheme designed to mislead or deceive another party. This can include making false statements, omitting material information, or engaging in fraudulent behavior to manipulate someone into acting in a way they otherwise would not have. According to the U.S. Securities and Exchange Commission (SEC), it is illegal to defraud or deceive someone through the misrepresentation of material information, including when buying or selling a security. 

[Last reviewed in July of 2024 by the Wex Definitions Team]

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