Section 4(a)(1) of the Securities Act of 1933

E927190

provision of United States federal securities law statutory exemption

Section 4(a)(1) of the Securities Act of 1933 is a statutory exemption that allows persons other than issuers, underwriters, or dealers to resell securities without registering the transaction with the U.S. Securities and Exchange Commission.

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All labels observed (1)

Label	Occurrences
Section 4(a)(1) of the Securities Act of 1933 canonical	1

Statements (42)

Predicate	Object
instanceOf	provision of United States federal securities law ⓘ statutory exemption ⓘ
appliesTo	resale of securities ⓘ
citedIn	judicial decisions interpreting resale exemptions ⓘ no‑action letters and SEC interpretive guidance ⓘ
codifiedIn	15 U.S.C. § 77d(a)(1) ⓘ
constrainedBy	anti‑fraud provisions of the federal securities laws ⓘ definition of underwriter in Section 2(a)(11) of the Securities Act of 1933 ⓘ
country	United States of America ⓘ surface form: United States
doesNotApplyTo	transactions by dealers ⓘ transactions by issuers ⓘ transactions by underwriters ⓘ
enforcedBy	U.S. Securities and Exchange Commission NERFINISHED ⓘ
exemptionFor	ordinary trading transactions by investors ⓘ secondary market transactions by non‑issuers ⓘ transactions by persons other than issuers, underwriters, or dealers ⓘ
exemptsFrom	Section 5 registration requirements of the Securities Act of 1933 ⓘ registration of certain securities transactions ⓘ
formerlyDesignatedAs	Section 4(1) of the Securities Act of 1933 NERFINISHED ⓘ
interpretedBy	U.S. Securities and Exchange Commission NERFINISHED ⓘ U.S. federal courts NERFINISHED ⓘ
jurisdiction	United States of America ⓘ surface form: United States
legalEffect	provides safe harbor from registration for qualifying resales ⓘ
legalSystem	common law influenced federal statutory system ⓘ
partOf	Securities Act of 1933 NERFINISHED ⓘ
policyGoal	avoid unnecessary registration of routine trading transactions ⓘ balance investor protection with market liquidity ⓘ
primaryPurpose	facilitate ordinary trading in outstanding securities without registration ⓘ
regulates	resale transactions in securities ⓘ
relatedProvision	Rule 144 under the Securities Act of 1933 NERFINISHED ⓘ Section 4(a)(2) of the Securities Act of 1933 ⓘ Section 5 of the Securities Act of 1933 ⓘ
relatedToConcept	public offering versus private offering distinction ⓘ secondary trading markets ⓘ underwriter status under the Securities Act of 1933 ⓘ
renumberedBy	Jumpstart Our Business Startups Act NERFINISHED ⓘ
renumberedInYear	2012 ⓘ
subjectMatter	exempt transactions ⓘ registration of securities transactions ⓘ securities regulation ⓘ
usedBy	investors reselling restricted or control securities subject to additional conditions ⓘ
yearEnacted	1933 ⓘ

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

Section 4(a)(2) of the Securities Act of 1933 → distinguishedFrom → Section 4(a)(1) of the Securities Act of 1933 ⓘ