17 C.F.R. § 230.150
Definition of “commission or other remuneration” in section 3(a)(9), for certain transactions
The term commission or other remuneration in section 3(a)(9) of the Act shall not include payments made by the issuer, directly or indirectly, to its security holders in connection with an exchange of securities for outstanding securities, when such payments are part of the terms of the offer of exchange.
Notes of Decisions
Cited in 1
case, 1999–1999 · leading case: Kennilworth Partners L.P. v. Cendant Corp., 59 F. Supp. 2d 417 (D.N.J. 1999).
Kennilworth Partners L.P. v. Cendant Corp., 59 F. Supp. 2d 417 (D.N.J. 1999). “According to 17 C.F.R. § 230.150 , “[t]he term ‘commission or other remuneration’ in section 3(a)(9) shall not include payments made by an issuer, directly or indirectly, to its security holders in connection with an exchange of securities for outstanding securi *424 ties, when…”
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