[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR230.134a]

[Page 475-476]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 230--GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933--Table of Contents
 
Sec. 230.134a  Options material not deemed a prospectus.

    Written materials, including advertisements, relating to 
standardized options, as that term is defined in Rule 9b-1 under the 
Securities Exchange Act of 1934, shall not be deemed to be a prospectus 
for the purposes of section 2(10) of the Securities Act of 1933; 
Provided, That such materials are limited to explanatory information 
describing the general nature of the standardized options markets or one 
or more strategies; And, Provided further, That:
    (a) The potential risks related to options trading generally and to 
each strategy addressed are explained;

[[Page 476]]

    (b) No past or projected performance figures, including annualized 
rates of return are used;
    (c) No recommendation to purchase or sell any option contract is 
made;
    (d) No specific security is identified, other than
    (1) An option or other security exempt from registration under the 
Act, or
    (2) An index option, including the component securities of the 
index; and
    (e) If there is a definitive options disclosure document, as defined 
in Rule 9b-1 under the Securities Exchange Act of 1934, the materials 
shall contain the name and address of a person or persons from whom a 
copy of such document may be obtained.

(15 U.S.C. 77a et seq.; secs. 2, 7, 10, 19(a), 48 Stat. 74, 78, 81, 85; 
secs. 201, 205, 209, 210, 48 Stat. 905, 906, 908; secs. 1-4. 8, 68 Stat. 
683, 685; sec. 12(a), 73 Stat. 143; sec. 7(a), 74 Stat. 412; sec. 27(a), 
84 Stat. 1433; sec. 308(a)(2), 90 Stat. 57)

[47 FR 41955, Sept. 23, 1982, as amended at 49 FR 12688, Mar. 30, 1984]