Source: http://ecfr.io/Title-17/se17.4.240_13a68_61b
Timestamp: 2019-08-24 18:48:11
Document Index: 558779227

Matched Legal Cases: ['§240', 'art 240', '§240', 'art 240', '§240', 'art 240', '§240', '§240', '§240', '§240', '§230']

[17 CFR §240.3a68-1b] Title 17 Part 240 → Subpart A → §240.3a68-1b : Code of Federal Regulations ';
Title 17 Part 240 → Subpart A → §240.3a68-1b
Title 17 → Chapter II → Part 240 → Subpart A → §240.3a68-1b
§240.3a68-1b Meaning of “narrow-based security index” as used in section 3(a)(68)(A)(ii)(I) of the Act.
(a) Notwithstanding §240.3a68-3(a), and solely for purposes of determining whether a credit default swap is a security-based swap under section 3(a)(68)(A)(ii)(I) of the Act (15 U.S.C. 78c(a)(68)(A)(ii)(I)), the term narrow-based security index as used in section 3(a)(68)(A)(ii)(I) of the Act means an index in which:
(1)(i) The index is composed of nine or fewer securities or securities that are issued by nine or fewer non-affiliated issuers, provided that a security shall not be deemed a component of the index for purposes of this section unless:
(B) The issuer of the security included in the index is eligible to rely on the exemption provided in §240.12g3-2(b);
(1) The issuer of the security included in the index (other than an issuer of the security that is an issuing entity of an asset-backed security as defined in section 3(a)(79) of the Act (15 U.S.C. 78c(a)(79))) makes available to the public or otherwise makes available to such eligible contract participant information about such issuer pursuant to §230.144A(d)(4)) of this chapter;
(2)(i) The index is not composed solely of exempted securities as defined in section 3(a)(12) of the Act (15 U.S.C. 78c(a)(12)), as in effect on the date of enactment of the Futures Trading Act of 1982 (other than any municipal security as defined in section 3(a)(29) of the Act (15 U.S.C. 78c(a)(29))), as in effect on the date of enactment of the Futures Trading Act of 1982); and
(b) Paragraph (a)(1)(iv) of this section will not apply with respect to securities of an issuer included in the index if:
(2) Control for purposes of this section means ownership of more than 50 percent of the equity of an issuer of securities included in the index (for purposes of paragraph (c)(4) of this section) or another entity (for purposes of paragraph (c)(5) of this section), or the ability to direct the voting of more than 50 percent of the voting equity an issuer of securities included in the index (for purposes of paragraph (c)(4) of this section) or another entity (for purposes of paragraph (c)(5) of this section).