Distribution Compliance Period

Definition:

With respect to securities sold in reliance upon Regulation S (category 2 or 3), the period of time during which a number of restrictions are imposed on issuers, distributors, Affiliates, and agents in order to prevent securities from being traded to US citizens or on US markets following their issue.

This compliance period applies to securities sold under Regulation S; however, some limited exemptions may be available. The category, either 2 or 3, of Regulation S into which the issuer falls and whether they issue debt or equity will determine the extent of the restrictions and length of the period.

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