Series 79 practice questionhardRule 144
An affiliate wants to sell restricted stock of a public company under Rule 144. The company has not filed required 10-Qs for over a year. Which Rule 144 condition is not met?
- AHolding period
- BVolume limitation
- CCurrent public information✓ Correct answer
- DManner of sale
Explanation
Why C — Current public information
Rule 144 requires current public information; if the company is delinquent in filings, this condition is not satisfied. The other requirements could be met, but without current filings, Rule 144 sales cannot proceed.
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