[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: 17CFR230.135a]

[Page 477]
 
              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. 230.135a  Generic advertising.

    (a) For the purposes only of section 5 of the Act, a notice, 
circular, advertisement, letter, sign, or other communication, published 
or transmitted to any person which does not specifically refer by name 
to the securities of a particular investment company, to the investment 
company itself, or to any other securities not exempt under section 3(a) 
of the Act, will not be deemed to offer any security for sale, provided:
    (1) Such communication is limited to any one or more of the 
following:
    (i) Explanatory information relating to securities of investment 
companies generally or to the nature of investment companies, or to 
services offered in connection with the ownership of such securities,
    (ii) The mention or explanation of investment companies of different 
generic types or having various investment objectives, such as balanced 
funds, growth funds, income funds, leveraged funds, specialty funds, 
variable annuities, bond funds, and no-load funds,
    (iii) Offers, descriptions, and explanation of various products and 
services not constituting a security subject to registration under the 
Act: Provided, That such offers, descriptions, and explanations do not 
relate directly to the desirability of owning or purchasing a security 
issued by a registered investment company,
    (iv) Invitation to inquire for further information, and
    (2) Such communication contains the name and address of a registered 
broker or dealer or other person sponsoring the communication.
    (b) If such communication contains a solicitation of inquiries and 
prospectuses for investment company securities are to be sent or 
delivered in response to such inquiries, the number of such investment 
companies and, if applicable, the fact that the sponsor of the 
communication is the principal underwriter or investment adviser in 
respect to such investment companies shall be stated.
    (c) With respect to any communication describing any type of 
security, service, or product, the broker, dealer, or other person 
sponsoring such communication must offer for sale a security, service, 
or product of the type described in such communication.

[37 FR 10073, May 19, 1972, as amended at 37 FR 10931, June 1, 1972]