18684 Federal Register / Vol. 77, No. 60 / Wednesday, March 28, 2012 / Rules and Regulations 

1 17 CFR 200.30–1. 

2 17 CFR 200.800. 

3 17 CFR 230.501. 

4 17 CFR 230.502. 

5 17 CFR 240.15g–1. 

6 17 CFR 242.101. 

7 17 CFR 242.102. 

8 17 CFR 242.104. 

Drummond Island, MI, Drummond Island, 

Takeoff Minimums and Obstacle DP, Amdt 

1 

Orr, MN, Orr Rgnl, Takeoff Minimums and 

Obstacle DP, Amdt 2 

Columbia, MO, Columbia Rgnl, Takeoff 

Minimums and Obstacle DP, Amdt 5 

Jefferson City, MO, Jefferson City Memorial, 

NDB RWY 12, Amdt 2C, CANCELLED 

Philadelphia, MS, Philadelphia Muni, NDB 

RWY 18, Amdt 1A, CANCELLED 

Philadelphia, MS, Philadelphia Muni, NDB 

RWY 36, Amdt 1A, CANCELLED 

Billings, MT, Billings Logan Intl, ILS OR 

LOC/DME RWY 28R, Amdt 1 

Billings, MT, Billings Logan Intl, RNAV 

(GPS) RWY 7, Amdt 1 

Billings, MT, Billings Logan Intl, RNAV 

(GPS) RWY 25, Amdt 1 

Portales, NM, Portales Muni, Takeoff 

Minimums and Obstacle DP, Orig 

Socorro, NM, Socorro Muni, RNAV (GPS) 

RWY 33, Amdt 1 

New York, NY, La Guardia, Takeoff 

Minimums and Obstacle DP, Amdt 9A 

Hot Springs, SD, Hot Springs Muni, GPS 

RWY 19, Orig, CANCELLED 

Hot Springs, SD, Hot Springs Muni, RNAV 

(GPS) RWY 1, Orig 

Hot Springs, SD, Hot Springs Muni, RNAV 

(GPS) RWY 19, Orig 

El Paso, TX, El Paso Intl, RNAV (GPS) X 

RWY 4, Orig-A 

El Paso, TX, El Paso Intl, RNAV (RNP) Y 

RWY 4, Orig 

El Paso, TX, El Paso Intl, RNAV (RNP) Z 

RWY 4, Orig 

El Paso, TX, El Paso Intl, RNAV (RNP) Z 

RWY 22, Orig-A 

El Paso, TX, El Paso Intl, RNAV (RNP) Z 

RWY 26L, Orig 

Fort Worth, TX, Fort Worth Spinks, ILS OR 

LOC RWY 35L, Amdt 2 

Fort Worth, TX, Fort Worth Spinks, RNAV 

(GPS) RWY 17R, Amdt 1 

Fort Worth, TX, Fort Worth Spinks, RNAV 

(GPS) RWY 35L, Amdt 1 

Nacogdoches, TX, A L Mangham Jr. Rgnl, 

GPS RWY 36, Orig-A, CANCELLED 

Nacogdoches, TX, A L Mangham Jr. Rgnl, 

RNAV (GPS) RWY 36, Orig 

Nacogdoches, TX, A L Mangham Jr. Rgnl, 

Takeoff Minimums and Obstacle DP, Amdt 

2 

Blackstone, VA, Allen C. Perkinson Muni/ 

Blackstone AAF, Takeoff Minimums and 

Obstacle DP, Amdt 2 

Galax Hillsville, VA, Twin County, RNAV 

(GPS) RWY 1, Amdt 1 

Galax Hillsville, VA, Twin County, RNAV 

(GPS) RWY 19, Amdt 1 

Galax Hillsville, VA, Twin County, Takeoff 

Minimums and Obstacle DP, Amdt 3 

Bennington, VT, William H. Morse State, 

VOR RWY 13, Amdt 1 

Milwaukee, WI, General Mitchell Intl, 

Takeoff Minimums and Obstacle DP, Amdt 

8 

Kemmerer, WY, Kemmerer Muni, Takeoff 

Minimums and Obstacle DP, Amdt 2 

[FR Doc. 2012–7220 Filed 3–27–12; 8:45 am] 

BILLING CODE 4910–13–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Parts 200, 230, 240, and 242 

[Release Nos. 33–9287A; IA–3341A; IC– 

29891A; File No. S7–04–11] 

RIN 3235–AK90 

Net Worth Standard for Accredited 

Investors 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Final rule; technical 

amendment. 

SUMMARY: We are making a technical 

amendment to Regulation D and 

conforming changes to certain other 

rules. Regulation D was last amended in 

Release No. 33–9287 (December 21, 

2011), which was published in the 

Federal Register on December 29, 2011. 

Those amendments became effective on 

February 27, 2012. Due to a 

typographical error in that release, the 

Preliminary Notes to Regulation D were 

inadvertently deleted from Regulation 

D. We are restoring the deleted text as 

new Rule 500. The deleted text is not 

being restored as Preliminary Notes in 

order to comply with current Federal 

Register codification standards. 

DATES: Effective: March 28, 2012. 

FOR FURTHER INFORMATION CONTACT: 

Anthony G. Barone, Special Counsel; 

Karen C. Wiedemann, Attorney Fellow; 

or Gerald J. Laporte, Chief; Office of 

Small Business Policy, Division of 

Corporation Finance, U.S. Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–3628, (202) 

551–3460. 

SUPPLEMENTARY INFORMATION: We are 

adopting new Rule 500 (17 CFR 

230.500) to restore the text that 

previously appeared as Preliminary 

Notes to Regulation D, and amending 

certain of our rules so references to 

Regulation D in such rules are to 17 CFR 

230.500 et seq. This is a technical 

amendment restoring text that was 

inadvertently deleted and updating 

cross-references to Regulation D to 

conform to the new codification 

resulting from this technical 

amendment. The deleted text is being 

designated as Rule 500, rather than 

being restored as Preliminary Notes, in 

order to comply with current Federal 

Register codification standards. This 

amendment does not affect legal rights 

and obligations under Regulation D. To 

update cross-references to Regulation D, 

we are amending Rules 30–1 1 and 800 2

under ‘‘Organization; Conduct and 

Ethics; and Information and Requests;’’ 

Rules 5013 and 502 4 of Regulation D 

under the Securities Act of 1933, as 

amended; Rule 15g–1 5 under the 

Securities Exchange Act of 1934, as 

amended; and Rules 101,6 102 7 and 

104 8 of Regulation M under the 

Securities Exchange Act of 1934, as 

amended. 

List of Subjects in 17 CFR Parts 200, 

230, 240, and 242 

Reporting and recordkeeping 

requirements, Securities. 

For the reasons set out above, Title 17, 

Chapter II of the Code of Federal 

Regulations is hereby amended as 

follows: 

PART 200—ORGANIZATION; 

CONDUCT AND ETHICS; AND 

INFORMATION AND REQUESTS 

■ 1.The general authority citation for 

Part 200 continues to read, in part, as 

follows: 

Authority: 15 U.S.C. 77o, 77s, 77sss, 78d, 

78d–1, 78d–2, 78w, 78ll(d), 78mm, 80a–37, 

80b–11, and 7202, unless otherwise noted. 

* * * * * 

§ 200.30–1 [Amended] 

■ 2. In § 200.30–1(c), remove the 

reference to ‘‘§ 230.501 et seq. of this 

chapter’’ and add in its place ‘‘§ 230.500 

et seq. of this chapter’’. 

§ 200.800 [Amended] 

■ 3. In § 200.800(b), remove the 

reference to ‘‘230.501 thru 230.506’’ 

under the heading ‘‘17 CFR part or 

section where identified and described’’ 

and add in its place ‘‘230.500 thru 

230.508’’. 

PART 230—GENERAL RULES AND 

REGULATIONS, SECURITIES ACT OF 

1933 

■ 4. The general authority citation for 

Part 230 continues to read, in part, as 

follows: 

Authority: 15 U.S.C. 77b, 77b note, 77c, 

77d, 77f, 77g, 77h, 77j, 77r, 77s, 77z–3, 77sss, 

78c, 78d, 78j, 78l, 78m, 78n, 78o, 78o–7 note, 

78t, 78w, 78ll(d), 78mm, 80a–8, 80a–24, 80a– 

28, 80a–29, 80a–30, and 80a–37, unless 

otherwise noted. 

* * * * * 

■ 5. Add § 230.500 to read as follows: 


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Federal Register / Vol. 77, No. 60 / Wednesday, March 28, 2012 / Rules and Regulations 18685 

§ 230.500 Use of Regulation D. 

Users of Regulation D (§§ 230.500 et 

seq.) should note the following: 

(a) Regulation D relates to transactions 

exempted from the registration 

requirements of section 5 of the 

Securities Act of 1933 (the Act) (15 

U.S.C.77a et seq., as amended). Such 

transactions are not exempt from the 

antifraud, civil liability, or other 

provisions of the federal securities laws. 

Issuers are reminded of their obligation 

to provide such further material 

information, if any, as may be necessary 

to make the information required under 

Regulation D, in light of the 

circumstances under which it is 

furnished, not misleading. 

(b) Nothing in Regulation D obviates 

the need to comply with any applicable 

state law relating to the offer and sale of 

securities. Regulation D is intended to 

be a basic element in a uniform system 

of federal-state limited offering 

exemptions consistent with the 

provisions of sections 18 and 19(c) of 

the Act (15 U.S.C. 77r and 77(s)(c)). In 

those states that have adopted 

Regulation D, or any version of 

Regulation D, special attention should 

be directed to the applicable state laws 

and regulations, including those relating 

to registration of persons who receive 

remuneration in connection with the 

offer and sale of securities, to 

disqualification of issuers and other 

persons associated with offerings based 

on state administrative orders or 

judgments, and to requirements for 

filings of notices of sales. 

(c) Attempted compliance with any 

rule in Regulation D does not act as an 

exclusive election; the issuer can also 

claim the availability of any other 

applicable exemption. For instance, an 

issuer’s failure to satisfy all the terms 

and conditions of rule 506 (§ 230.506) 

shall not raise any presumption that the 

exemption provided by section 4(2) of 

the Act (15 U.S.C. 77d(2)) is not 

available. 

(d) Regulation D is available only to 

the issuer of the securities and not to 

any affiliate of that issuer or to any other 

person for resales of the issuer’s 

securities. Regulation D provides an 

exemption only for the transactions in 

which the securities are offered or sold 

by the issuer, not for the securities 

themselves. 

(e) Regulation D may be used for 

business combinations that involve 

sales by virtue of rule 145(a) 

(§ 230.145(a)) or otherwise. 

(f) In view of the objectives of 

Regulation D and the policies 

underlying the Act, Regulation D is not 

available to any issuer for any 

transaction or chain of transactions that, 

although in technical compliance with 

Regulation D, is part of a plan or scheme 

to evade the registration provisions of 

the Act. In such cases, registration 

under the Act is required. 

(g) Securities offered and sold outside 

the United States in accordance with 

Regulation S (§ 230.901 through 905) 

need not be registered under the Act. 

See Release No. 33–6863. Regulation S 

may be relied upon for such offers and 

sales even if coincident offers and sales 

are made in accordance with Regulation 

D inside the United States. Thus, for 

example, persons who are offered and 

sold securities in accordance with 

Regulation S would not be counted in 

the calculation of the number of 

purchasers under Regulation D. 

Similarly, proceeds from such sales 

would not be included in the aggregate 

offering price. The provisions of this 

paragraph (g), however, do not apply if 

the issuer elects to rely solely on 

Regulation D for offers or sales to 

persons made outside the United States. 

§ 230.501 [Amended] 

■ 6. In § 230.501 introductory text, 

remove the reference to ‘‘§§ 230.501– 

230.508’’ and add in its place ‘‘§ 230.500 

et seq. of this chapter’’. 

§ 230.502 [Amended] 

■ 7. In § 230.502 introductory text, 

remove the reference to ‘‘§§ 230.501– 

230.508’’ and add in its place ‘‘§ 230.500 

et seq. of this chapter’’. 

PART 240—GENERAL RULES AND 

REGULATIONS, SECURITIES 

EXCHANGE ACT OF 1934 

■ 8. The general authority citation for 

Part 240 continues to read, in part, as 

follows: 

Authority: 15 U.S.C. 77c, 77d, 77g, 77j, 

77s, 77z–2, 77z–3, 77eee, 77ggg, 77nnn, 

77sss, 77ttt, 78c, 78d, 78e, 78f, 78g, 78i, 78j, 

78j–1, 78k, 78k–1, 78l, 78m, 78n, 78n–1, 78o, 

78o–4, 78p, 78q, 78s, 78u–5, 78w, 78x, 78ll, 

78mm, 80a–20, 80a–23, 80a–29, 80a–37, 80b– 

3, 80b–4, 80b–11, and 7201 et seq.; 18 U.S.C. 

1350, 12 U.S.C. 5221(e)(3), and Pub. L. 111– 

203, § 939A, 124 Stat. 1376, (2010) unless 

otherwise noted. 

* * * * * 

§ 240.15g–1 [Amended] 

■ 9. In § 240.15g–1(c), remove the 

reference to ‘‘17 CFR 230.501–230.508’’ 

and add in its place ‘‘17 CFR 230.500 et 

seq’’. 

PART 242—REGULATION M 

■ 10. The general authority citation for 

Part 242 continues to read, in part, as 

follows: 

Authority: 15 U.S.C. 77c, 77d, 77g, 77j, 

77s, 77z–2, 77z–3, 77eee, 77ggg, 77nnn, 

77sss, 77ttt, 78c, 78d, 78e, 78f, 78g, 78i, 78j, 

78j–1, 78k, 78k–1, 78l, 78m, 78n, 78n–1, 78o, 

78o–4, 78p, 78q, 78s, 78u–5, 78w, 78x, 78ll, 

78mm, 80a–20, 80a–23, 80a–29, 80a–37, 80b– 

3, 80b–4, 80b–11, and 7201 et seq.; 18 U.S.C. 

1350, 12 U.S.C. 5221(e)(3), and Pub. L. 111– 

203, § 939A, 124 Stat. 1376, (2010) unless 

otherwise noted. 

* * * * * 

§ 242.101 [Amended] 

■ 11. In § 242.101(b)(10)(i), remove the 

reference to ‘‘§ 230.501 through 

§ 230.508’’ and add in its place 

‘‘§ 230.500 et seq’’. 

§ 242.102 [Amended] 

■ 12. In § 242.102(b)(7)(i), remove the 

reference to ‘‘§ 230.501 through 

§ 230.508’’ and add in its place 

‘‘§ 230.500 et seq’’. 

§ 242.104 [Amended] 

■ 13. In § 242.104(j)(2)(i), remove the 

reference to ‘‘§ 230.501 through 

§ 230.508’’ and add in its place 

‘‘§ 230.500 et seq’’. 

Dated: March 23, 2012. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2012–7446 Filed 3–27–12; 8:45 am] 

BILLING CODE 8011–01–P 

HEALTH AND HUMAN SERVICES 

DEPARTMENT 

Food and Drug Administration 

21 CFR Part 516 

New Animal Drugs for Minor Use and 

Minor Species 

CFR Correction 

In Title 21 of the Code of Federal 

Regulations, Parts 500 to 599, revised as 

of April 1, 2011, on page 96, in § 516.20, 

(b)(2) is revised to read as follows: 

§ 516.20 Content and format of a request 

for MUMS-drug designation. 

* * * * * 

(b) * * * 

(2) The name and address of the 

sponsor; the name of the sponsor’s 

primary contact person and/or 

permanent-resident U.S. agent including 

title, address, and telephone number; 

the established name (and proprietary 

name, if any) of the active 

pharmaceutical ingredient of the drug; 

and the name and address of the source 


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