CFR > Title 17 - Commodity and Securities Exchanges > CHAPTER II—SECURITIES AND EXCHANGE COMMISSION > PART 230—GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933 > 230.134a—Options material not deemed a prospectus.

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;
(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.

Code of Federal Regulations

( 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)

Code of Federal Regulations

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