Series 79: Distribution Compliance Period

a period of no sales to U.S. persons, imposed on certain securities in Regulation S offerings. It is an additional, stricter prohibition than Regulation S’s normal limitations on selling to Americans. It prohibits sales to U.S. persons on both the primary and secondary markets. It begins on the offering’s start date. Depending on the type of securities, it ends 40 days, six months, or one year after the offering’s end date.