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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 21. Securities and Retail Franchising |
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Agency 5. State Corporation Commission, Division of Securities and Retail Franchising |
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Chapter 40. Exempt Securities and Transactions |
Section 50. Foreign issuer
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In accordance with § 13.1-514 A 13 of the Act, any equity or debt security issued by an issuer organized under the laws of any foreign country is exempted from the securities registration requirements of the Act provided the following criteria are met:
1. With respect to an equity security, the security meets the marginability requirements of regulation T adopted by the Board of Governors of the Federal Reserve System ("the Board") or is an American Depository Receipt representing such a security; and
2. With respect to a debt security, the security meets the marginability requirements of regulation T adopted by the Board.
Historical Notes
Derived from Rule 505, Case No. 900034, eff. July 1, 1990; amended to renumber by Case No. SEC910057, eff. July 1, 1991; amended by Case No. SEC920008, eff. October 15, 1992; Volume 15, Issue 22, eff. July 1, 1999.