Series 79: Exemptions For Regularly Released Business Information

Exemptions for Regularly Released Business Information

Rules 168 and 169 create a safe harbor for the communication of certain regularly released business information. The general idea behind these exemptions is that a company does not have to cease all of its normal communications because a registration statement will be or has been filed. The scope of the exemption varies somewhat depending on whether the company is already a reporting issuer or whether it is a new issuer. (Rule 168 applies to reporting issuers, Rule 169 to new issuers.)

Under both rules, if the issuer meets the conditions of the exemption, it may communicate factual business information. Such information includes factual information about the issuer, its bus