http://www.w3.org/ns/prov#value | - tion pursuant to Regulation S to non-U.S. persons, both as agent and on a riskless principal basis.337 The group also requested that the exemption extend to resale of Regulation S securities held by non-U.S. persons to other non-U.S. persons in transactions pursuant to Regulation S. While the group indicated that banks need this exemption primarily to sell proprietary products, such as mutual fund
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