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Electronic Code of Federal Regulations

e-CFR data is current as of February 19, 2020


17 CFR--PART 230

View Printed Federal Register page 83 FR 64220 in PDF format.

Amendment(s) published December 13, 2018, in 83 FR 64220

Effective Dates: Jan. 14, 2019

2. Amend §230.139 by revising the introductory text of paragraph (a) to read as follows:

§230.139   Publications or distributions of research reports by brokers or dealers distributing securities.

(a) Registered offerings. Under the conditions of paragraph (a)(1) or (2) of this section, a broker's or dealer's publication or distribution of a research report about an issuer or any of its securities shall be deemed for purposes of sections 2(a)(10) and 5(c) of the Act not to constitute an offer for sale or offer to sell a security that is the subject of an offering pursuant to a registration statement that the issuer proposes to file, or has filed, or that is effective, even if the broker or dealer is participating or will participate in the registered offering of the issuer's securities. For purposes of the Fair Access to Investment Research Act of 2017 [Pub. L. 115-66, 131 Stat. 1196 (2017)], a safe harbor has been established for covered investment fund research reports, and the specific terms of that safe harbor are set forth in §230.139b.

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