Domestic Resales of Unregistered Securities: Rule 144, Section 4(a)(1½), and Section 4(a)(7)

Summary

This practice note discussed the principal exemptions from registration under the Securities Act of 1933, as amended (Securities Act), for resales in the United States of restricted and control securities, including (1) Rule 144 under the Securities Act (17 C.F.R. § 230.144), (2) the so-called "Section 4(a)(1½)" exemption, and (3) Section 4(a)(7) of the Securities Act (15 U.S.C. § 77d).