Some comments on the usual Rule 144 scenario and related matters revisited: obtaining prior "approval" of the insurer's counsel

Article Abstract:

The author outlines the pitfalls of the provision of SEC Rule 144 that a selling securities broker-dealer must obtain the prior approval of the insurer's counsel before selling a stock.

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Re-visiting the question: must a broker-dealer securities firm use another broker-dealer securities firm in selling its own restricted securities under Rule 144?

Article Abstract:

The issue of whether securities broker-dealers may sell their own restricted securities in SEC Rule 144 sales has virtually always been consistently treated by the SEC. Its position is that broker-dealers may not act as their own brokers in Rule 144 and 145(d)(1) sales and may not sell to themselves when acting as market makers.

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Some comments on listed call option transactions and listed put option transactions by owners of control and restricted securities

Article Abstract:

SEC's Division of Corporation Finance first stated that securities that could be publicly sold only under SEC Rules 144 and 145(d) could not be used to cover the selling of listed call options, then later reversed that position. The Division's later clarifications mean that Rule 144 and 145(a) cannot be used in connection with privately negotiated call or put option contracts or combinations thereof.

Options (Finance)

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