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Staff Legal Bulletins

Staff Legal Bulletins summarize the Commission staff's views regarding various aspects of the federal securities laws and SEC regulations. They represent interpretations and policies followed by the Divisions of Corporation Finance, Market Regulation, or Investment Management on any given matter. Because they represent the views of the staff, staff legal bulletins are not legally binding.

Bulletin No. Date Details
SLB 12 Mar. 12, 2001 Staff Legal Bulletin from the Division of Investment Management: "Frequently Asked Questions About Rule 11Ac1-5"
SLB 11 Sep. 19, 2000 Staff Legal Bulletin from the Division of Investment Management: The Applicability of the Investment Advisers Act of 1940 to Financial Advisors to Municipal Bond Issuers.
SLB 10 Aug. 25, 2000 Staff Legal Bulletin from the Division of Market Regulation: Prohibited Solicitations and "Tie-in" Agreements for Aftermarket Purchases.
SLB 9 Jan. 4, 2000 Staff Legal Bulletin from the Division of Market Regulation: Frequently Asked Questions About Regulation M. REVISED!
SLB 3R Oct. 20, 1999 Revised Staff Legal Bulletin from the Division of Corporation Finance: Section 3(a)(10) exemption from the1933 Act's registration requirements; the Securities Act resale status of securities received in transactions exempt from registration pursuant to Section 3(a)(10); and the availability of the Section 3(a)(10) exemption after the enactment of Section 302 of the Securities Litigation Uniform Standards Act of 1998.
SLB 7A Jun. 7, 1999 Updated Staff Legal Bulletin from the Division of Corporation Finance: Plain English Disclosure An updated guide to the plain English rule and amendments that apply to public companies filing with the Division of Corporation Finance.
SLB 8 Sep. 9, 1998 Staff Legal Bulletin from the Division of Market Regulation re: How broker-dealers should handle customer orders and notify customers when marketwide circuit breakers halt trading on exchanges; also, the need for broker-dealers to maintain enough internal systems capacity to operate properly when trading volume is extremely high.
SLB 7 Sep. 4, 1998 Staff Legal Bulletin from the Division of Corporation Finance re: Helpful information on the plain English rule and amendments that apply to public companies filing with the Division of Corporation Finance.
Note: on June 7, 1999, we updated this staff legal bulletin. Please see SLB 7A.
SLB 6 Jul. 22, 1998 Staff Legal Bulletin from the Divisions of Corporation Finance, Market Regulation and Investment Management re: A reminder to public issuers, broker-dealers, investment advisers, and investment companies to consider their disclosure obligations in connection with the January 1, 1999, conversion by 11 member states of the European Union to a common currency, the "euro."
SLB 5 Jan. 12, 1998 Staff Legal Bulletin from the Division of Corporation Finance and the Division of Investment Management re: A reminder to public operating companies, investment advisors, and investment companies to consider their disclosure obligations relating to anticipated costs, problems and uncertainties associated with the Year 2000 issue. REVISED!
SLB 4 Sep. 16, 1997 Staff Legal Bulletin from the Division of Corporation Finance re: Whether Section 5 of the Securities Act of 1933 applies to spin-offs; also addresses related matters, including how securities received in spin-offs may be resold under the Securities Act.
NOTE! Original file, posted 9-16-97, was missing footnotes. Download fresh copy (as of 1:15 PM EDT, 9-17-97) to view this material.
SLB 3 Jul. 25, 1997 Staff Legal Bulletin from the Division of Corporation Finance re: The Section 3(a)(10) exemption from the Securities Act of 1933 registration requirements and the Securities Act resale status of securities that are received in transactions exempt from registration pursuant to Section 3(a)(10).
Note: on October 20, 1999, we revised this staff legal bulletin. Please see SLB 3R.
SLB 2 Apr. 15, 1997 Staff Legal Bulletin from the Division of Corporation Finance re: Requests to modify the Securities Exchange Act of 1934 periodic reporting of issuers that are either reorganizing or liquidating under the provisions of the United States Bankruptcy Code.
NOTE! Original file, posted in April 1997, was missing its footnotes. Download fresh copy (as of 9-17-97) to view this material.
SLB 1 Feb. 28, 1997 Staff Legal Bulletin from the Division of Corporation Finance re: The requirements a registrant must satisfy when requesting confidential treatment of information that otherwise is required to be disclosed in registration statements, periodic reports and other documents filed with the SEC.
NOTE! Original file, posted in February 1997, was missing its footnotes. Download fresh copy (as of 9-17-97) to view this material.

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03/202001