CFR /  Title 17  /  Part 242  /  Sec. 242.505 Exclusion for news media.

No provision of this Regulation AC shall apply to any person who:

(a) Is the publisher of any bona fide newspaper, news magazine or business or financial publication of general and regular circulation; and

(b) Is not registered or required to be registered with the Commission as a broker or dealer or investment adviser.

Regulation NMS--Regulation of the National Market System

Source: 70 FR 37620, June 29, 2005, unless otherwise noted.