What information must be disclosed in securities offerings?

Disclosing all pertinent information regarding the investment vehicle is essential for ensuring that potential investors can make informed decisions. This includes not only the issuer's past performance but also the current financial condition, risks involved, terms of the investment, and any other relevant details that might influence an investor's decision.

Transparency is a cornerstone of securities regulation, aimed at preventing fraud and protecting investors. By providing comprehensive information, issuers fulfill their obligations under securities laws, ensuring that investors are aware of both the opportunities and the risks associated with the investment. This level of disclosure helps to create a fair and efficient marketplace, where investors can assess the value and risks of various investment offerings accurately.

The other options focus on limited or specific aspects of the investment, which does not provide the full picture necessary for informed investment decisions. For instance, only considering past performance or just the risks associated would not equip investors with the entirety of the information they need to evaluate the investment thoroughly.