17 CFR 240.16b-5
§ 240.16b-5 Bona fide gifts and inheritance.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
Cite this
- Citation
- 17 CFR 240.16b-5, § 240.16b-5 Bona fide gifts and inheritance, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69328
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Full text
Both the acquisition and the disposition of equity securities shall be exempt from the operation of section 16(b) of the Act if they are:
(a) Bona fide gifts; or (b) transfers of securities by will or the laws of descent and distribution.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.