CPAs and Advisors with Your Growth in Mind

SEC Proposal Labels Certain Securities as Covered Securities

The Securities and Exchange Commission (“SEC”) recently issued the Proposed Rule, Covered Securities Pursuant to Section 18 of the Securities Act of 1933. The proposal would impact Rule 146 under Section 18 of the Securities Act of 1933, by designating certain securities on Investors Exchange LLC as covered securities under Section 18(b) of the Securities Act. According to Rule 146(b), covered securities are national securities exchanges, or segments of such exchanges, that are considered having listing standards that are “substantially similar” to the Named Markets. Covered securities under Section 18(b) are excluded from state law registration requirements. Comments on the. Read More.

Topics: , , ,