Series 79: Statutory Exceptions

Statutory Exceptions

• • The first statutory exception is for a communication sent or given after the registration statement becomes effective, provided it can be proven that a final prospectus was provided prior to or at the same time as the communication. The idea behind this exception is that, if a prospective investor has clearly received a final prospectus, it serves little purpose to define some other document as a prospectus.
• • The second statutory exception applies to a “notice, circular, adver