What is Section 3 A 10 of the Securities Exchange Act of 1934?
Section 3(a)(10) reads as follows: “Except with respect to a security exchanged in a case under title 11 of the United States Code, any security which is issued in exchange for one or more bona fide outstanding securities, claims or property interests, or partly in such exchange and partly for cash, where the terms and ...
Section 3(a)(10) Issuances for Attorney Fees
The SEC has only allowed the issuance of securities as attorneys' fees under the Section 3(a)(10) exemption in limited circ*mstances where the securities amount to no more than one-third of the securities subject to a settlement.
Section 3(a)(2) provides an exemption for, inter alia, securities issued by states and political subdivisions or public instrumentalities thereof. The section also provides an independent exemption for certain tax exempt industrial development bonds.
Section 10A requires reporting to the Securities and Exchange Commission (SEC) when, during the course of a financial audit, an auditor detects likely illegal acts that have a material impact on the financial statements and appropriate remedial action is not being taken by management or the board of directors.
Section 10(a)(3) requires that when a prospectus is used more than nine months after the effective date of the registration statement, the information contained in the prospectus must be no more than sixteen months old, so far as such information is known to the user of the prospectus or can be furnished without ...
Section 10 exemption in income tax refers to the various types of income that are exempt from tax under Section 10 of the Income Tax Act, 1961. These exemptions are available to both salaried and self-employed individuals. Some of the most common Section 10 exemptions include: House rent allowance (HRA)
rule 3a-7 under the Investment Company Act of 1940 (the "Act"), to exclude issuers that pool income-producing assets and issue securities backed by those assets ("structured financing") from the definition of "investment company." The rule permits structured financings to · offer their securities publicly In the United ...
[2] Section 3(a)(11) of the Securities Act is generally known as the “intrastate offering exemption.” To qualify for the exemption, an issuer must be organized in the state where it is offering the securities; carry out a significant amount of its business in that state; and make offers and sales only to residents of ...
Under Section 3(a)(12) of the Exchange Act [15 U.S.C. 78c(a)(12)], the term "exempted securities" includes such securities as the Commission may exempt from the operation of any one or more provisions of the Exchange Act.
The four main requirements of a Section 3(a)(9) exchange are as follows: (i) same issuer – the issuer of the old securities being surrendered must be the same as the issuer of the new securities; (ii) no additional consideration from the security holder; (iii) offer must be made exclusively with existing security ...
What is Section 10 of the Exchange Act?
Section 10 Manipulative and Deceptive Devices
any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors.
Rule 10c-1a will for the first time require persons entering securities loans (or their intermediary or reporting agent, where applicable) to report specific terms of the loan to a registered national securities association (RNSA) by the end of the day on which the loan is either effected or modified.
Under Section 10 of the 1934 Securities Exchange Act auditors are liable to security purchasers for: Existence of scienter. Jones, CPA, is in court defending himself against a lawsuit filed under the 1933 Securities Act. The charges have been filed by purchasers of securities covered under that act.
Under Sections 13(d)(3) and (g)(3) of the Exchange Act, "when two or more persons act as a… group for purposes of acquiring, holding, or disposing of securities of an issuer," the group is considered to be one filing person.
Section 3(a)(4)(B)(ii) of the Exchange Act permits a bank, under certain conditions, to effect securities transactions in a trustee or fiduciary capacity without being registered as a broker.
(3) The Commission shall make available to the public for a reasonable fee a list of all equity securities of a class described in subsection (d)(1) of this section, updated no less frequently than reports are required to be filed pursuant to paragraph (1) of this subsection.
Inheritances, gifts, cash rebates, alimony payments (for divorce decrees finalized after 2018), child support payments, most healthcare benefits, welfare payments, and money that is reimbursed from qualifying adoptions are deemed nontaxable by the IRS.
Provisions of section 10(11) of the Income Tax Act exempts any payment received from the 'Statutory Provident Fund', whereas, provisions of section 10(12) of the Income Tax Act exempts the accumulated balance payable to an employee participating in the 'Recognized Provident Fund'.
There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. The amount by which the income subject to tax is reduced for the taxpayer, spouse, and each dependent.
Section 3(c)(7) of the 1940 Act excludes privately held investment companies from falling within the definition of an "investment company" under the 1940 Act if: (1) it is not making or proposing to make a public offering, and (2) the company's outstanding securities are owned exclusively by "qualified purchasers." " ...
What is the 4 A )( 7 exemption?
For example, Section 4(a)(7) of the Securities Act exempts from registration resales of securities to “accredited investors” as defined in Rule 501(a) of Regulation D, so long as the transaction satisfies the prohibition on general solicitation and general advertising and the information and other require- ments of ...
A 3(c)(1) fund allows only 100 accredited investors, or 250 accredited investors if the fund size is less than $10M. A 3(c)(7) fund can accept up to 2,000 qualified purchasers.
Under Exchange Act Section 3(a)(39), an encumbrance of a person, including a broker-dealer, who has engaged in certain types of misconduct, to SRO membership or participation or association with a broker-dealer.
This rule applies to Section 3(a)11 of the Securities Act of 1933, or the intrastate offering exemption. As such, the rule is also called the intrastate offers and sales rule. 1 This section is intended to allow issuers with localized operations to sell securities as part of a plan of local financing.
No. 106-554, 114 Stat. 2763 (2000). Under Section 3(a)(55)(A) of the Securities Exchange Act of 1934 ("Exchange Act"), the term "security future" is defined as a contract of sale for future delivery of a single security or of a narrow-based security index.
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