Section 260.105.35 - Exchange-Traded Options on Stock Indices(a) There is hereby exempted from the provisions of Sections 25110 and 25130 of the Code as not being comprehended within the purposes of the Corporate Securities Law of 1968 and the qualification of which is not necessary or appropriate in the public interest or for the protection of investors, any offer or sale of exchange-traded options on stock indices ("index options") or guarantees thereof, provided:(1) The index options are offered or sold by The Options Clearing Corporation on an exchange, or through the facilities of a national securities association, approved by the Commissioner; and(2) The rules of such exchange, or national securities association, and the rules of The Options Clearing Corporation relating to issuance, clearance, and settlement of index option transactions and relating to the processing and settlement of index option exercises, have been approved by the Securities and Exchange Commission under Section 19(b) of the Securities Exchange Act of 1934 (15 U.S.C. Sec. 78s(b)).(b) The Commissioner has approved, upon application, the American Stock Exchange, the Chicago Board Options Exchange, Incorporated, and the New York Stock Exchange, Inc. Pending an appropriate amendment to this rule, the Commissioner may by release designate other exchanges or associations whose applications have been approved.Cal. Code Regs. Tit. 10, § 260.105.35
1. New section filed 2-11-85; effective thirtieth day thereafter (Register 85, No. 7). Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25105, Corporations Code.
1. New section filed 2-11-85; effective thirtieth day thereafter (Register 85, No. 7).