Regulatory Alerts2016-12-28 | 2016-31286Added
Changes to Exchange Act Registration Requirements To Implement Title V and Title VI of the JOBS Act; Correction
The Securities and Exchange Commission issued a final rule providing technical corrections to Rule 12g-1 under the Securities Exchange Act of 1934. This amendment precisely reflects the holder of record threshold established by Exchange Act Section 12(g)(1) as modified by the JOBS Act and FAST Act. The corrected rule clarifies that an exemption from registration applies if equity securities were held of record by fewer than 2,000 persons, with fewer than 500 being non-accredited investors.
95458 Federal Register / Vol. 81, No. 249 / Wednesday, December 28, 2016 / Rules and Regulations 1 17 CFR 240.12g–1. 2 15 U.S.C. 78a et seq. sablefish harvested from any GOA reporting area’’, and ‘‘Authorized gear for halibut harvested from any IFQ regulatory area’’, and add entry for ‘‘Authorized gear for halibut harvested from any IFQ regulatory area in the BSAI’’ to read as follows: TABLE 15 TO PART 679—GEAR CODES, DESCRIPTIONS, AND USE [X indicates where this code is used] Name of gear Use alphabetic code to complete the following: Use numeric code to complete the following: Alpha gear code NMFS logbooks Electronic check-in/ check-out Numeric gear code IERS eLandings ADF&G COAR NMFS AND ADF&G GEAR CODES
Pot (includes longline pot and pot-andline). POT ............... X X 91 X X
FIXED GEAR Authorized gear for sablefish harvested from any GOA reporting area. All longline gear (hook-and-line, jig, troll, and handline) and longline pot gear. For purposes of determining initial IFQ allocation, all pot gear used to make a legal landing.
Authorized gear for halibut harvested from any IFQ regulatory area in the GOA. All fishing gear composed of lines with hooks attached, including one or more stationary, buoyed, and anchored lines with hooks attached and longline pot gear. Authorized gear for halibut harvested from any IFQ regulatory area in the BSAI. All fishing gear composed of lines with hooks attached, including one or more stationary, buoyed, and anchored lines with hooks attached. [FR Doc. 2016–31057 Filed 12–27–16; 8:45 am] BILLING CODE 3510–22–P SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 240 [Release No. 33–10075A; 34–77757A; File No. S7–12–14] RIN 3235–AL40 Changes to Exchange Act Registration Requirements To Implement Title V and Title VI of the JOBS Act; Correction AGENCY: Securities and Exchange Commission. ACTION: Final rule; technical correction. SUMMARY: This document makes technical corrections to a rule that was published in the Federal Register on May 10, 2016 (81 FR 28689). The Commission adopted revisions to Rule 12g–1 under the Securities Exchange Act of 1934 (‘‘Exchange Act’’) in light of the statutory changes made by Title V and Title VI of the Jumpstart Our Business Startups Act and Title LXXXV of the Fixing America’s Surface Transportation Act. This document is being published to correct language in that rule to more precisely reflect the holder of record threshold established by Exchange Act Section 12(g)(1). DATES: Effective December 28, 2016. FOR FURTHER INFORMATION CONTACT: Steven G. Hearne, Senior Special Counsel, at (202) 551–3430, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549. SUPPLEMENTARY INFORMATION: We are making technical corrections to Rule 12g–1 1 under the Exchange Act.2 List of Subjects in 17 CFR Part 240 Reporting and recordkeeping requirements, Securities. Text of the Amendments For the reasons set out above, title 17, chapter II of the Code of Federal Regulations is amended as follows: PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934 ■ 1. The general authority citation for part 240 continues to read as follows: Authority: 15 U.S.C. 77c, 77d, 77g, 77j, 77s, 77z–2, 77z–3, 77eee, 77ggg, 77nnn, 77sss, 77ttt, 78c, 78c–3, 78c–5, 78d, 78e, 78f, 78g, 78i, 78j, 78j–1, 78k, 78k–1, 78l, 78m, 78n, 78n–1, 78o, 78o–4, 78o–10, 78p, 78q, 78q–1, 78s, 78u–5, 78w, 78x, 78ll, 78mm, 80a–20, 80a–23, 80a–29, 80a–37, 80b–3, 80b– 4, 80b–11, 7201 et seq., and 8302; 7 U.S.C. 2(c)(2)(E); 12 U.S.C. 5221(e)(3); 18 U.S.C. 1350; Pub. L. 111–203, 939A, 124 Stat. 1376 (2010); and Pub. L. 112–106, sec. 503 and 602, 126 Stat. 326 (2012), unless otherwise noted.
■ 2. Amend § 240.12g–1 by revising paragraph (b)(1) to read as follows: § 240.12g–1 Registration of securities; Exemption from section 12(g).
(b)(1) The class of equity securities was held of record by fewer than 2,000 persons and fewer than 500 of those persons were not accredited investors (as such term is defined in § 230.501(a) of this chapter, determined as of such day rather than at the time of the sale of the securities); or
Dated: December 21, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–31286 Filed 12–27–16; 8:45 am] BILLING CODE 8011–01–P VerDate Sep<11>2014 16:15 Dec 27, 2016 Jkt 241001 PO 00000 Frm 00062 Fmt 4700 Sfmt 9990 E:\FR\FM\28DER1.SGM 28DER1 sradovich on DSK3GMQ082PROD with RULES