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Staff Legal BulletinsStaff Legal Bulletins summarize the Commission staff's views regarding various aspects of the federal securities laws and SEC regulations. They represent interpretations and policies followed by the Divisions of Corporation Finance, Market Regulation, or Investment Management on any given matter. Because they represent the views of the staff, staff legal bulletins are not legally binding. Staff Legal Bulletins are available on our website.
http://www.sec.gov/answers/stafflegalb.htm
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