§77sss Rules, Regulations, and Orders

Summary

Gives the Commission the power to make, change, or cancel rules and orders when needed to protect the public and investors and to carry out this part of the law. The Commission may set or explain accounting, technical, and trade words. It can set how to calculate percentages of voting and other securities for section 77jjj(b). It can define "cash transaction" and "self-liquidating paper" for indentures and decide which creditor relationships from 77kkk(b)(4) and (6) those definitions cover. It can require forms for filings and group people, securities, or indentures into classes and set different requirements for each class. Rules take effect when the Commission publishes them or on a later date it sets, subject to chapter 15 of title 44 and its rules. No one is legally liable for actions done or left undone in good faith because they followed a Commission rule or order, even if that rule is later changed or found invalid.