Exempt Securities and Exempt Transactions

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1. What is the basic distinction between sections 9 and 10 exemptions?
2. Which bank security is expressly excluded from section 9.1(e)’s bank-issued-security exemption?
3. Under section 10.1(k), the issuer’s private-placement exemption refers to sales to how many persons in the Philippines …
4. An issuer sells nonexempt securities to nineteen ordinary purchasers in the Philippines during twelve months. Assume al…
5. A corporation sells stock exclusively to its existing stockholders but pays a sales commission. It invokes section 10.1…
6. A seller repeatedly markets the same type of security in successive transactions and calls each sale isolated. The sell…
7. A security sale qualifies for exemption from section 8.1 registration. The seller knowingly uses fraudulent statements …
8. Distinguish exempt securities and exempt transactions with one example of each.
9. Explain why bank issuance alone does not conclusively exempt an offering of the bank’s own stock.
10. Why does registration exemption not amount to a license to make deceptive investment claims?
11. Which government-related security falls within the express class in SRC Section9.1(a)?
12. For the foreign-government class in Section9.1(b), diplomatic relations are accompanied by what express condition?