22 U.S.C. § 284ff — Exemption from securities laws; reports to Securities and Exchange Commission

submitted this year by Pub. L. 119-75 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 111 words · no verdicts yet

in plain englishAI-generated · not legal advice

Securities issued or guaranteed by the International Development Association count as "exempted securities" under two specific federal securities-law sections. But the Association must still file annual and other reports about those securities with the SEC. The SEC decides how much reporting is appropriate and necessary to protect investors and the public.

Any securities that the International Development Association issues — including any guarantee it makes — and any securities it guarantees for both principal and interest are treated as "exempted securities" under section 77c(a)(2) and section 78c(a)(12) of title 15. That means normal securities-registration rules don't apply to them. However, the Association must still file annual and other reports about these securities with the Securities and Exchange Commission. The SEC decides what reporting is appropriate, given the Association's special nature and operations, and what's necessary to protect the public interest and investors.

the actual law source: uscode.house.gov ↗public domain

Any securities issued by the International Development Association (including any guaranty by the Association, whether or not limited in scope) and any securities guaranteed by the Association as to both principal and interest shall be deemed to be exempted securities within the meaning of section 77c(a)(2) of title 15 and section 78c(a)(12) of title 15: Provided, That the Association shall file with the Securities and Exchange Commission such annual and other reports with regard to such securities as the Commission shall determine to be appropriate in view of the special character of the Association and its operations, and necessary in the public interest or for the protection of investors.

Source credit: (Pub. L. 119–75, div. F, title VII, § 7070(b)(7), Feb. 3, 2026, 140 Stat. 625.)

history & why it existsrecord from the source credit

2026Enacted · Pub. L. 119-75 · 140 Stat. 625

A history note hasn’t been published yet. The record shows enactment by Pub. L. 119-75 on 2026-02-03.

all 0 arguments · sorted by: best

no arguments yet — make the first case