ATTACHMENT A
NEW DRAFT COMPARED TO EARLIER DRAFTS
ARTICLE 1 DEFINITIONS
COMMENT
SECTION 101 SHORT TITLE
SECTION 102 DEFINITIONS
(1) Administrator TENTATIVE APPROVAL
(2) Agent TENTATIVE APPROVAL
(3) Bank
(4) Broker-Dealer TENTATIVE APPROVAL
(5) Depository institution
(6) Federal covered investment adviser TENTATIVE APPROVAL
(7) Federal covered security TENTATIVE APPROVAL
(8) Filing REVISED
(9) Fraud TENTATIVE APPROVAL
(10) Guaranteed TENTATIVE APPROVAL
(11) Institutional investor TENTATIVE APPROVAL
(12) Insurance company TENTATIVE APPROVAL
(13) Insured TENTATIVE APPROVAL
(14) International banking institution
(15) Investment adviser REVISED
(16) Investment adviser representative REVISED
(17) Investment advisory services
(18) Issuer REVISED
(19) Nonissuer transaction or nonissuer distribution TENTATIVE APPROVAL
(20) Offer to purchase
(21) Person TENTATIVE APPROVAL
(22) Place of business
(23) Predecessor act TENTATIVE APPROVAL
(24) Price amendment
(25) Principal place of business TENTATIVE APPROVAL
(26) Record
(27) Sale
(28) Securities and Exchange Commission TENTATIVE APPROVAL
(29) Security REVISED
(30) Self-regulatory organization TENTATIVE APPROVAL
(31) Sign
(32) State TENTATIVE APPROVAL
(33) Underwriter REVISED
SECTION 103 REFERENCES TO FEDERAL STATUTES TENTATIVE APPROVAL
SECTION 104 ELECTRONIC RECORDS AND SIGNATURES
ARTICLE 2 EXEMPTIONS FROM
REGISTRATION OF SECURITIES
SECTION 201 EXEMPT SECURITIES
(1) United States government and municipal securities TENTATIVE APPROVAL
(2) Foreign government securities TENTATIVE APPROVAL
(3) Depository institutions and international banking institution
securities TENTATIVE APPROVAL
(4) Insurance company securities TENTATIVE APPROVAL
(5) Public utility securities TENTATIVE APPROVAL
(6) Certain options and rights TENTATIVE APPROVAL
(7) Nonprofit organization securities REVISED
(8) Cooperatives TENTATIVE APPROVAL
(9) Equipment trust certificates TENTATIVE APPROVAL
SECTION 202 EXEMPT TRANSACTIONS
(1) Isolated nonissuer transactions TENTATIVE APPROVAL
(2) Nonissuer transactions in specified outstanding TENTATIVE APPROVAL
securities
(3) Nonissuer transactions in specified foreign TENTATIVE APPROVAL
securities
(4) Nonissuer transactions in securities subject to TENTATIVE APPROVAL Securities Exchange Act reporting
(5) Nonissuer transactions in specified securities with
fixed maturity, interest or dividend TENTATIVE APPROVAL
(6) Unsolicited brokerage transactions TENTATIVE APPROVAL
(7) Nonissuer transactions by pledgees TENTATIVE APPROVAL
(8) Underwriter transactions TENTATIVE APPROVAL
(9) Unit secured transactions REVISED
(10) Bankruptcy, guardian, or conservator transactions TENTATIVE APPROVAL
(11) Transactions with specified investors TENTATIVE APPROVAL
(12) Limited offering transactions TENTATIVE APPROVAL
(13) Transactions with existing security holders TENTATIVE APPROVAL
(14) Offerings when registered under this [Act] and the TENTATIVE APPROVAL
Securities Act of 1933
(15) Offerings when registration has been
filed, but is not effective under
this [Act] and exempt from the Securities
Act of 1933 TENTATIVE APPROVAL
(16) Control transactions TENTATIVE APPROVAL
(17) Rescission offers TENTATIVE APPROVAL
(18) Out-of-state offers or sales TENTATIVE APPROVAL
(19) Employee benefit plans TENTATIVE APPROVAL
SECTION 203 ADDITIONAL EXEMPTIONS AND TENTATIVE APPROVAL
WAIVERS
SECTION 204 DENIAL, CONDITION OR LIMITATION TENTATIVE APPROVAL
OF EXEMPTIONS
ARTICLE 3 REGISTRATION OF SECURITIES
AND NOTICE FILINGS OF FEDERAL COVERED SECURITIES
SECTION 301 SECURITIES REGISTRATION TENTATIVE APPROVAL
REQUIREMENT
SECTION 302 NOTICE FILINGS AND FEES
APPLICABLE TO CERTAIN FEDERAL COVERED TENTATIVE APPROVAL
SECURITIES
SECTION 303 SECURITIES REGISTRATION BY TENTATIVE APPROVAL
COORDINATION
SECTION 304 SECURITIES REGISTRATION BY
QUALIFICATION TENTATIVE APPROVAL
SECTION 305 SECURITIES REGISTRATION
FILINGS TENTATIVE APPROVAL
SECTION 306 DENIAL, SUSPENSION, AND
REVOCATION OF SECURITIES REGISTRATION TENTATIVE APPROVAL
SECTION 307 WAIVER
ARTICLE 4 BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS, INVESTMENT ADVISER REPRESENTATIVES, AND FEDERAL COVERED INVESTMENT ADVISERS
SECTION 401 BROKER-DEALER REGISTRATION REVISED
REQUIREMENT AND EXEMPTIONS
SECTION 402 AGENT REGISTRATION REQUIREMENT REVISED
AND EXEMPTIONS
SECTION 403 INVESTMENT ADVISER REGISTRATION REVISED
REQUIREMENT AND EXEMPTIONS
SECTION 404 INVESTMENT ADVISER REPRESENTATIVE REVISED
REGISTRATION REQUIREMENT AND EXEMPTIONS
SECTION 405 FEDERAL COVERED INVESTMENT REVISED
ADVISER NOTICE FILING REQUIREMENT
SECTION 406 REGISTRATION BY REVISED
BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS,
AND INVESTMENT ADVISER REPRESENTATIVES
SECTION 407 SUCCESSION AND CHANGE IN REVISED
REGISTRATION OF BROKER-DEALER OR
INVESTMENT ADVISER
SECTION 408 TERMINATION OF EMPLOYMENT OR
ASSOCIATION OF AGENTS AND INVESTMENT
ADVISER REPRESENTATIVES AND TRANSFER OF
EMPLOYMENT OR ASSOCIATION REVISED
SECTION 409 WITHDRAWAL OF REGISTRATION
OF BROKER-DEALERS, AGENTS,
INVESTMENT ADVISERS, AND INVESTMENT
ADVISER REPRESENTATIVES REVISED
SECTION 410 FILING FEES REVISED
SECTION 411 POST REGISTRATION REQUIREMENTS REVISED
SECTION 412 DENIAL, REVOCATION, REVISED
SUSPENSION, CANCELLATION, WITHDRAWAL,
RESTRICTION, CONDITION, OR LIMITATION OF
REGISTRATION
SECTION 413 DENIAL, REVOCATION,
SUSPENSION, CONDITION, OR LIMITATION OF
BROKER-DEALER AND INVESTMENT ADVISER
EXEMPTIONS
ARTICLE 5 FRAUD AND LIABILITIES
SECTION 501 GENERAL FRAUD TENTATIVE APPROVAL
SECTION 502 PROHIBITED CONDUCT IN REVISED
PROVIDING INVESTMENT ADVICE
SECTION 503 EVIDENTIARY BURDEN TENTATIVE APPROVAL
SECTION 504 FILING OF SALES AND ADVERTISING
LITERATURE TENTATIVE APPROVAL
SECTION 505 MISLEADING FILINGS TENTATIVE APPROVAL
SECTION 506 MISREPRESENTATIONS CONCERNING
REGISTRATION OR EXEMPTION TENTATIVE APPROVAL
SECTION 507 QUALIFIED IMMUNITY
SECTION 508 CRIMINAL PENALTIES TENTATIVE APPROVAL
SECTION 509 CIVIL LIABILITY REVISED
SECTION 510 RESCISSION OFFERS
ARTICLE 6 ADMINISTRATION AND JUDICIAL REVIEW
SECTION 601 ADMINISTRATION OF [ACT] TENTATIVE APPROVAL
OTHER THAN SECTION
601(d)
SECTION 602 INVESTIGATIONS AND SUBPOENAS TENTATIVE APPROVAL
SECTIONS 602(a)-(c)
EXCEPT 602(c)
BRACKETED
LANGUAGE; 602(e)
SECTION 603 CIVIL ENFORCEMENT TENTATIVE APPROVAL
SECTION 604 ADMINISTRATIVE ENFORCEMENT
SECTION 605 RULES, FORMS, ORDERS, INTERPRETATIVE
OPINIONS, AND HEARINGS TENTATIVE APPROVAL
SECTION 606 ADMINISTRATIVE FILES AND OPINIONS TENTATIVE APPROVAL
SECTION 607 PUBLIC RECORDS; CONFIDENTIALITY TENTATIVE APPROVAL
OTHER THAN SECTION
607(b)(6)
SECTION 608 UNIFORMITY AND COOPERATION
WITH OTHER AGENCIES TENTATIVE APPROVAL
SECTION 609 JUDICIAL REVIEW TENTATIVE APPROVAL
SECTION 610 JURISDICTION TENTATIVE APPROVAL
SECTION 611 SERVICE OF PROCESS TENTATIVE APPROVAL
SECTION 612 SEVERABILITY CLAUSE TENTATIVE APPROVAL
ARTICLE 7 TRANSITION
SECTION 701 EFFECTIVE DATE TENTATIVE APPROVAL
SECTION 702 REPEALS TENTATIVE APPROVAL
SECTION 703 APPLICATION TO EXISTING
PROCEEDING TENTATIVE APPROVAL
ATTACHMENT B
SCHEDULE APRIL 19-21, 2002
APRIL 19
ARTICLE 4 BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS, INVESTMENT ADVISER REPRESENTATIVES, AND FEDERAL COVERED INVESTMENT ADVISERS.
Section 102(2) AGENT
Section 102(3) BANK
Section 102(4) BROKER-DEALER
Section 102(5) DEPOSITORY INSTITUTION
Section 102(15) INVESTMENT ADVISER
Section 102(16) INVESTMENT ADVISER REPRESENTATIVE
Section 102(19) INVESTMENT ADVISORY SERVICES
Section 102(29) SECURITY
Section 102(18) ISSUER
Section 102(20) OFFER TO PURCHASE
Section 102(11) INSTITUTIONAL INVESTORS
Section 102(14) INTERNATIONAL BANKING INSTITUTION
Section 102(22) PLACE OF BUSINESS
Section 102(24) PRICE AMENDMENT
Section 102(26) RECORD; SECTION 102(8) FILING; SECTION 102(31) SIGN; AND
SECTION 104 ELECTRONIC RECORDS and SIGNATURES.
Section 102(27) SALE
Section 102(33) UNDERWRITER
Section 201(3) DEPOSITORY INSTITUTIONS
Section 201(7) NONPROFIT ORGANIZATION SECURITIES
Section 202(5)(A) NSRO EXEMPTION
Section 202(9) UNIT SECURED TRANSACTIONS
Section 202(10) BANKRUPTCY
Section 202(12)(C) LIMITED OFFERING TRANSACTIONS
Section 306(d),(e) STOP ORDERS
Section 307 WAIVERS
Section 502 PROHIBITED CONDUCT IN PROVIDING INVESTMENT ADVICE
Section 507 QUALIFIED IMMUNITY
Section 509(f)(1),(g),(j) CIVIL LIABILITY
Section 510 RESCISSION OFFERS
Section 601(d) INVESTOR EDUCATION
Section 602(c)-(d) INVESTIGATIONS AND SUBPOENAS
Section 603(a)(b) CIVIL ENFORCEMENT
Section 604 ADMINISTRATIVE ENFORCEMENT
Section 607(b)(6), 607(c)(2) RECORDS
Section 608 UNIFORMITY AND COOPERATION WITH OTHER AGENCIES
Section 609 JUDICIAL REVIEW
Final approval by Drafting Committee of the Act.
The April 21st meeting is anticipated to last until 3 PM.