Source: http://www.law.cornell.edu/cfr/text/17/230.159A
Timestamp: 2014-03-07 13:51:16
Document Index: 573517974

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

17 CFR 230.159A - Certain definitions for purposes of section 12(a)(2) of the Act. | LII / Legal Information Institute
CFR › Title 17 › Chapter II › Part 230 › Section 230.159A 17 CFR 230.159A - Certain definitions for purposes of section 12(a)(2) of the Act.
§ 230.159A
Certain definitions for purposes of section 12(a)(2) of the Act.
Definition of seller for purposes of section 12(a)(2) of the Act.
For purposes of section 12(a)(2) of the Act only, in a primary offering of securities of the issuer, regardless of the underwriting method used to sell the issuer's securities, seller shall include the issuer of the securities sold to a person as part of the initial distribution of such securities, and the issuer shall be considered to offer or sell the securities to such person, if the securities are offered or sold to such person by means of any of the following communications:
Any preliminary prospectus or prospectus of the issuer relating to the offering required to be filed pursuant to Rule 424 (§ 230.424) or Rule 497 (§ 230.497);
Any free writing prospectus as defined in Rule 405 (§ 230.405) relating to the offering prepared by or on behalf of the issuer or used or referred to by the issuer and, in the case of an issuer that is an open-end management company registered under the Investment Company Act of 1940 (15 U.S.C. 80a-1
et seq.), any summary prospectus relating to the offering provided pursuant to Rule 498 (§ 230.498);
The portion of any other free writing prospectus (or, in the case of an issuer that is an investment company registered under the Investment Company Act of 1940 or a business development company as defined in section 2(a)(48) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(48)), any advertisement pursuant to Rule 482 (§ 230.482)) relating to the offering containing material information about the issuer or its securities provided by or on behalf of the issuer; and
Any other communication that is an offer in the offering made by the issuer to such person.
Notes to paragraph (a) of Rule 159A.
1. For purposes of paragraph (a) of this section, information is provided or a communication is made by or on behalf of an issuer if an issuer or an agent or representative of the issuer authorizes or approves the information or communication before its provision or use. An offering participant other than the issuer shall not be an agent or representative of the issuer solely by virtue of its acting as an offering participant.
2. Paragraph (a) of this section shall not affect in any respect the determination of whether any person other than an issuer is a “seller” for purposes of section 12(a)(2) of the Act.
Definition of by means of for purposes of section 12(a)(2) of the Act.
For purposes of section 12(a)(2) of the Act only, an offering participant other than the issuer shall not be considered to offer or sell securities that are the subject of a registration statement by means of a free writing prospectus as to a purchaser unless one or more of the following circumstances shall exist:
The offering participant was required to file the free writing prospectus pursuant to the conditions to use in Rule 433 (§ 230.433).
For purposes of section 12(a)(2) of the Act only, a person will not be considered to offer or sell securities by means of a free writing prospectus solely because another person has used or referred to the free writing prospectus or filed the free writing prospectus with the Commission pursuant to Rule 433.