Current through September 30, 2024
Section 240.12a-7 - Exemption of stock contained in standardized market baskets from section 12(a) of the Act(a) Any component stock of a standardized market basket shall be exempt from the registration requirement of section 12(a) of the Act, solely for the purpose of inclusion in a standardized market basket, provided that all of the following terms and conditions are met: (1) The standardized market basket has been duly approved by the Commission for listing on a national securities exchange pursuant to the requirements of section 19(b) of the Act; and(2) The stock is an NMS stock as defined in § 242.600 of this chapter and is either: (i) Listed and registered for trading on a national securities exchange by the issuer or(ii) Quoted on the National Association of Securities Dealers Automated Quotation System;(b) When used in this rule, the term standardized market basket means a group of at least 100 stocks purchased or sold in a single execution and at a single trading location with physical delivery and transfer of ownership of each component stock resulting from such execution.56 FR 28322, June 20, 1991, as amended at 70 FR 37618, June 29, 2005