Securities Lawyer's Deskbook
                         published by The University of Cincinnati College of Law
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General Rules and Regulations
promulgated
under the
Securities Act of 1933





Rule 146T -- Rules Under Section 18 of the Act


Prepared by or on behalf of the issuer. An offering document (as defined in Section 18(d)(1)) of the Act is "prepared by or on behalf of the issuer" for purposes of Section 18 of the Act, if the issuer or an agent or representative:


    1. Authorizes the document's production, and

    2. Approves the document before its use.

  1. Covered securities for purposes of Section 18.

    1. For purposes of Section 18(b) of the Act, the Commission finds that the following national securities exchanges, or segments or tiers thereof, have listing standards that are substantially similar to those of the New York Stock Exchange ("NYSE"), the American Stock Exchange ("Amex"), or the National Market System of the Nasdaq Stock Market ("Nasdaq/NGM"), and that securities listed, or authorized for listing, on such exchanges shall be deemed covered securities:

      1. Tier I of the NYSE Arca, Inc.;

      2. Tier I of the Philadelphia Stock Exchange, Inc.;


      3. The Chicago Board Options Exchange, Incorporated;


      4. Options listed on the International Securities Exchange, LLC: and


      5. The Nasdaq Capital Market.


    2. The designation of securities in paragraphs (b)(1)(i) through (v) of this section as covered securities is conditioned on such exchanges' listing standards (or segments or tiers thereof) continuing to be substantially similar to those of the NYSE, Amex, or Nasdaq/NGM.

  2. Temporary definition of eligible contract participant as qualified purchaser. For purposes of Section 18(b)(3) of the Act (15 U.S.C. 77r(b)(3)), the term "qualified purchaser" shall mean any eligible contract participant (as defined in Section 1a(12) of the Commodity Exchange Act (7 U.S.C. 1a(12)) as in effect on the date of adoption of this section, other than a person who is an eligible contract participant under Section 1(a)(12)(C) of the Commodity Exchange Act) that has been sold an eligible credit default swap (as defined in Rule 239T of this Act) in reliance on Rule 239T of this Act. This temporary rule will expire on November 30, 2010.


Regulatory History


62 FR 24572, 24573, May 6, 1997; 63 FR 3032, 3035, Jan. 21, 1998; 69 FR 43295, 43298, July 20, 2004; 72 FR 20410, 20414, April 24, 2007; 74 FR 3967, 3974, Jan. 22, 2009; 74 FR 47719, 47724, Sept. 17, 2009

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