|
Summary
|
 Rule
144
- Safe harbor for the resale of restricted securities
and control securities
- Permits persons who hold such securities to
publicly sell them without registration and without being deemed underwriters,
if certain conditions are satisfied
- Restricted securities generally are
securities issued in non-public offerings
- Control securities are securities owned
by affiliates of
the issuer
Rule
145
|
Developments
|
SEC
issues revised FAQS
- Replaces Telephone Manual interpretations
SEC
is considering reproposing changes to rules
- First proposed in 1997
- Would make Rule 144, Rule 145, and
Form 144
easier to understand and apply
- Add a bright line test to
the Rule 144 definition of affiliate
- Increase the Form 144 filing
thresholds
- Codify certain interpretive positions
- Proposal release 33-7391
1997
- Targeted date for proposal:
April 2006
|
Rule 144
Form 144
SEC FAQs
SEC Releases - Rule 144
SEC No-Action Letters
Related Topics
|
Exempt
Offerings
|
|
