Safe Harbor

In order to provide additional legal certainty, there are a number of non-exclusive “safe harbors” under the securities laws. To the extent a market participant complies with the specified conditions for the safe harbor, it can be assured that its activity will comply with applicable rules. For example, Rule 506(b) of Regulation D provides a non-exclusive safe harbor under Securities Act Section 4(a)(2) for private placements by an issuer.