Securities Act 1933
Applies to :
Registration statement :Non-exempt issues
Prospectus is required
20- day cool off period. "full and fair"Prospectus is delivered whenAt or prior to confirmation for 90 day period following effective date.Who are the exempt issuersDirect Obligations of U.S. gov
Agencies
Munis
Foreign
Insurance companies (not variable annuity)
Bank Issues
Common Carrier
Non-profit
Bankers' Acceptance and Commerical paper
SBICNon- Exempt IssuesCorporate Stock, Bond, Warrants
Options
Investment Companies and Variable Annuities
Limited PartnershipsExempt TransactionsRule 147 (intrastate)
Reg D (Private Placements)
PIPE Transactions (private investment in public equity)
Rule 144
Rule 144A (QIB)
Reg SRule 147 - Intrastate exemption100% of issue sold to state residents
Issuer must be state residents
6-month resale restriction
Still Must comply with blue sky laws
