[lemma=and] □
[lemma=and] [□]
[lemma=and] □?
Variable annuity contracts are securities , as are mutual-fund shares , and both are therefore subject to the registration and antifraud provisions of the 1933 Act. Participation interests in Code Section 403 ( b ) plans that are both voluntary and contributory on the part of participating employees would involve securities for the reasons outlined in SEC Release 33-6188 . Piracy and Contributory Infringement , crimes in which software is illegally posted to or transferred via the Internet . Their overall conclusion was that management and control weaknesses were underlying , fundamental and contributory in almost all of the cases they considered .