CFR > Title 17 - Commodity and Securities Exchanges > CHAPTER II—SECURITIES AND EXCHANGE COMMISSION > PART 230—GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933 > 230.901—General statement.

230.901—General statement.

For the purposes only of section 5 of the Act (15 U.S.C. § 77e ), the terms offer, offer to sell, sell, sale, and offer to buy shall be deemed to include offers and sales that occur within the United States and shall be deemed not to include offers and sales that occur outside the United States.