Task: Instance Class Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following classes does 'TEFRA D rule' belong to as one valid explicit type? Context: securities regulation that is a U.S. Treasury Regulation section 1.163-5(c)(2)(i)(D), or any successor regulation, established under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), that relates to the classification of debt obligations as either 'bearer' or 'registered' for U.S. tax purposes, applies to most straightforward issues of bearer debt in the Euromarkets, and ensures that an issue of bearer debt satisfied 'reasonable arrangement' requirements

A. contingent obligation
B. securities regulation
C. delegated legal authority
D. regulatory capacity

Answer: securities regulation