§77sss. Rules, regulations, and orders
(a) Authority of Commission; subject matter of rules, etc.
The Commission shall have authority from time to time to make, issue, amend, and rescind such rules and regulations and such orders as it may deem necessary or appropriate in the public interest or for the protection of investors to carry out the provisions of this subchapter, including rules and regulations defining accounting, technical, and trade terms used in this subchapter. Among other things, the Commission shall have authority, (1) by rules and regulations, to prescribe for the purposes of section 77jjj(b) of this title the method (to be fixed in indentures to be qualified under this subchapter) of calculating percentages of voting securities and other securities; (2) by rules and regulations, to prescribe the definitions of the terms "cash transaction" and "self-liquidating paper" which shall be included in indentures to be qualified under this subchapter, which definitions shall include such of the creditor relationships referred to in paragraphs (4) and (6) of subsection (b) of section 77kkk of this title as to which the Commission determines that the application of subsection (a) of section 77kkk of this title is not necessary in the public interest or for the protection of investors, having due regard for the purposes of such subsection; and (3) for the purposes of this subchapter, to prescribe the form or forms in which information required in any statement, application, report, or other document filed with the Commission shall be set forth. For the purpose of its rules or regulations the Commission may classify persons, securities, indentures, and other matters within its jurisdiction and prescribe different requirements for different classes of persons, securities, indentures, or matters.
(b) Rules and regulations effective upon publication
Subject to the provisions of chapter 15 of title 44 and regulations prescribed under the authority thereof, the rules and regulations of the Commission under this subchapter shall be effective upon publication in the manner which the Commission shall prescribe, or upon such later date as may be provided in such rules and regulations.
(c) Exemption from liability for any acts taken in good faith in conformity with rules, etc.
No provision of this subchapter imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or order of the Commission, notwithstanding that such rule, regulation, or order may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
(May 27, 1933, ch. 38, title III, §319, as added Aug. 3, 1939, ch. 411,
Amendments
1998-Subsec. (b).
Transfer of Functions
For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§1, 2, eff. May 24, 1950, 15 F.R. 3175,
Cross References
Rules and regulations-
Contrary stipulations void, see section 77aaaa of this title.
Information and documents to be included in registration statement, see section 77eee of this title.
Integration of procedure with Securities Act and other acts, see section 77hhh of this title.
Liability of trustee for noncompliance of indenture, see section 77iii of this title.
Penalties for violation of, see section 77yyy of this title.
Qualification, form, or interpretation of indenture unaffected by subsequent making, amendment, or rescission of rule or regulation, see section 77iii of this title.
Qualification of indentures covering securities not required to be registered, see section 77ggg of this title.
Reports by obligor, see section 77nnn of this title.
Transactions involving issue or sale of securities by registered holding company to indenture trustee of company, see section 77kkk of this title.
Unlawful representations, see section 77xxx of this title.
Rules and regulations under-
Investment Advisers Act of 1940, see section 80b–11 of this title.
Investment Company Act of 1940, see section 80a–37 of this title.
Public Utility Holding Company Act of 1935, see section 79t of this title.
Securities Act of 1933, see section 77s of this title.
Securities Exchange Act of 1934, see sections 78c and 78w of this title.