An exemption to the holding period and volume restrictions of Rule 144 for qualified institutional buyers (QIBs).
SEC rule permitting Qualified Institutional Buyers (QIBs) to trade privately-placed securities without two to three year holding requirements, thereby substantially increasing the liquidity of those securities.
A safe harbor exemption from the registration requirements of Section 5 of the 1933 Act for resales of certain restricted securities to qualified institutional buyers, which are commonly referred to as "QIBs." In particular, Rule 144A affords safe harbor treatment for reoffers or resales to QIBs - by persons other than issuers - of securities of domestic and foreign issuers that are not listed on a U.S. securities exchange or quoted on a U.S. automated inter-dealer quotation system. Rule 144A provides that reoffers and resales in compliance with the rule are not "distributions" and that the reseller is therefore not an "underwriter" within the meaning of Section 2(a)(11) of the 1933 Act. If the reseller is not the issuer or a dealer, it can rely on the exemption provided by Section 4(1) of the 1933 Act. If the reseller is a dealer, it can rely on the exemption provided by Section 4(3) of the 1933 Act.
Rule 144a of the American Securities and Exchange Commission Code has made it easier for foreign projects to gain access to US markets. It has done this by reducing the disclosure requirements so that securities can be sold to eligible institutional investors.
SEC exemption from registration requirements to permit U.S. institutional investors to trade foreign stocks. Only qualified investing company (QICs) meeting conditions regarding the size of their portfolios, may trade 144A securities either as buyers or sellers.
SEC rule allowing qualified institutional buyers to buy and trade unregistered securities.
An SEC rule that modified a two-year holding period requirement on privately placed securities by permitting Qualified Institutional Buyers (QIBs) to trade these positions among themselves.
See SEC Rule 144A.