CHAPTER 205. REGISTRATION BY COORDINATION

§ 205.021. Registration by coordination.

 (a)  Except as specified in subsection (b), registration by coordination may be initiated by filing with the Commission within the specified time period:

   (1)  A registration statement and other materials required under section 205 of the act (70 P. S. §  1-205).

   (2)  A properly executed Uniform Application to Register Securities (Form U-1) and relevant exhibits thereto.

   (3)  Additional information the Commission may by regulation or order require under section 205(b)(iii) of the act (70 P. S. §  1-205(b)(iii)).

 (b)  In addition to filing the information and form required in subsection (a), insurers in offerings being made in reliance on SEC Regulation A promulgated under section 3(b) of the Securities Act of 1933 (15 U.S.C.A. §  77c(b)) shall execute and file with the Commission within the specified time period the form, designated by the Commission as Form R in accordance with the General Instructions thereto.

 (c)  The 10-day registration statement filing requirement in section 205(c)(2)(ii) of the act (70 P. S. §  1-205(c)(2)(ii)) shall be reduced to 5 days for the following:

   (1)  An offering for which a registration statement has been filed with the Commission designated as Form S-2 or S-3 by the SEC.

   (2)  An offering for which a registration statement has been filed with the Commission designated as Form F-7, F-8, F-9 or F-10 by the SEC.

   (3)  An offering for pass-through certificates evidencing undivided interests in trusts consisting of, or debt securities secured by, specific categories of receivables which securities, as a condition of issuance, are to be rated in one of the top three rating categories by one or more Nationally recognized statistical rating organizations.

 (d)  During the period of the offering, the issuer shall take steps necessary to ensure that all material information contained in its Form R remains current and accurate in all material respects. If a material statement made in the form, or any attachment thereto, becomes materially incorrect or inaccurate, the issuer shall file an amendment with the Commission in accordance with §  609.011 (relating to amendments filed with the Commission) within 5 business days of the occurrence of the event which required the filing of the amendment.

   The provisions of this §  205.021 amended under sections 203(d), (o) and (p), 205, 206, 207(n), 210, 301, 303, 504, 603(a) and (c), 606(d) and 609 of the Pennsylvania Securities Act of 1972 (70 P. S. § §  1-203(d), (o) and (p), 1-205, 1-206, 1-207(n), 1-210, 1-301, 1-303, 1-504, 1-603(a) and (c), 1-606(d) and 1-609); and the Takeover Disclosure Law (70 P. S. §  74).

 For purposes of complying with the requirements of sections 201 and 211(a) of the act (70 P. S. § §  1-201 and 1-211(a)), each series underlying a unit investment trust, as that person is classified in the Investment Company Act of 1940 (15 U.S.C.A. § §  80a-1—80a-64), constitutes a separate and distinct issuer under the act and shall be required to make a separate filing with the Commission under section 211(a).

   The provisions of this §  205.040 issued under section 205(d) of the Pennsylvania Securities Act of 1972 (70 P. S. §  1-205(b)(iii)); amended under sections 202(g) and (i), 203(d), (i.1), (j) and (n)—(t), 204(a), 205(b), 207(g), (j.1) and (n), 209(b), 211(a) and (b), 504(d), 513, 603(a), 606(d) and 609(a) of the Pennsylvania Securities Act of 1972 (70 P. S. § §  1-202(g) and (i), 1-203(d), (i.1), (j) and (n)—(t), 1-204(a), 1-205(b), 1-207(g), (j.1) and (n), 1-209(b), 1-211(a) and (b), 1-504(d), 1-513, 1-603(a), 1-606(d) and 1-609(a)).

   The provisions of this §  205.040 adopted December 2, 1988, effective December 3, 1988, 18 Pa.B. 5361; amended December 30, 1999, effective January 1, 2000, 30 Pa.B. 18. Immediately preceding text appears at serial pages (200073) to (200074).