Blue Sky Exemptions
By virtue of a Securities and Exchange Commission (SEC) order in January 1998 that designates NYSE Arca Tier I listed securities as covered securities for the purposes of Section 18(a) of the Securities Act of 1933, Tier I listings are afforded Blue Sky exemption from state securities laws in all 50 states (SEC Release No. 3-7494, January 2, 1998). Under the SEC's order, Section 18(a) preempts any state registration and fee requirements that would otherwise apply to Tier I listings. Tier II listings are afforded for issuer and non-issuer exemptions in the following states and jurisdictions except where noted below. For further information, please email nysearcalistings@nyse.com.
|
State |
Tier |
|
|
I |
II |
|
|
Alabama |
X |
|
|
Alaska |
X |
X |
|
Arizona |
X |
X |
|
Arkansas |
X |
X |
|
California |
X |
|
|
Colorado |
X |
X |
|
Connecticut |
X |
|
|
Delaware |
X |
X |
|
Florida |
X |
|
|
Georgia |
X |
X |
|
Hawaii |
X |
X |
|
Idaho |
X |
|
|
Illinois |
X |
X |
|
Indiana |
X |
|
|
Iowa |
X |
|
|
Kansas |
X |
X3 |
|
Kentucky |
X |
|
|
Louisiana |
X |
|
|
Maine |
X |
|
|
Maryland |
X |
|
|
Massachusetts |
X |
X |
|
Michigan |
X |
|
|
Minnesota |
X |
|
|
Mississippi |
X |
|
|
Missouri |
X |
X |
|
Montana |
X |
X |
|
Nebraska |
X |
|
|
Nevada |
X |
X |
|
New Hampshire |
X |
|
|
New Jersey |
X |
|
|
New Mexico |
X |
X |
|
New York |
X |
|
|
North Carolina |
X |
|
|
North Dakota |
X |
|
|
Ohio |
X |
|
|
Oklahoma |
X |
|
|
Oregon |
X |
X |
|
Pennsylvania |
X |
|
|
Rhode Island |
X |
X |
|
South Carolina |
X |
|
|
South Dakota |
X |
|
|
Tennessee |
X |
|
|
Texas |
X |
X |
|
Utah |
X |
|
|
Vermont |
X |
|
|
Virginia |
X |
|
|
Washington |
X |
|
|
West Virginia |
X |
|
|
Wisconsin |
X |
|
|
Wyoming |
X |
|
1. Non-issuer exemption only
2. Issuer transactions may be subject to notice filing requirements
3. Issuer securities described as smal cap or emerging companies shall not be exempt under this exemption.
|
Territory |
Tier |
|
|
|
I |
II |
|
Puerto Rico |
X |
X |