Securities Act of 1933
Law designed to ensure that investors are provided with material information about new issues of securities offered for sale to the public.
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Accredited Investor
An investor satisfying the definition promulgated by the SEC in Rule 501 of Regulation D under the 1933 Act.
Dive Deeper on State Law Matters
Learn more about the various aspects of state laws and how they intersect with municipal securities.
See Also
Qualified Institutional Buyer (“QIB”)
An investor satisfying the definition promulgated by the SEC in Rule 144A under the 1933 Act.
Start with the Bond Basics
Hundreds of Terms and Concepts
120% Rule
Rule outlined in Section 147(b) of the code that states private activity bonds are not tax-exempt bonds if the weighted average maturity of the bond issue exceeds 120% of the average reasonably expected economic useful life of the facilities financed with the bond proceeds.