Pennsylvania Statutes Title 70 P.S. Securities § 1-410. Prearranged trading programs

In connection with the offer, sale or purchase of any security in this State, no person shall be deemed to have violated section 401 or 406   1 or otherwise to have made an untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading if such person demonstrates that the offer, sale or purchase was prearranged in accordance with 17 CFR § 240.10b5-1(c) (relating to trading “on the basis of” material nonpublic information in insider trading cases), or any successor thereto, promulgated under section 10(b) of the Securities Exchange Act of 1934 (48 Stat. 881, 15 U.S.C. § 78a et seq. ).

1 70 P.S. §§ 1-401, 1-406.

FindLaw Codes are provided courtesy of Thomson Reuters Westlaw, the industry-leading online legal research system. For more detailed codes research information, including annotations and citations, please visit Westlaw.

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Copied to clipboard