{"data":{"id":"us/17-cfr-260.3-4-2","jurisdiction":"us","citation":"17 CFR 260.3(4)-2","heading":"(4)-2 Definition of “distribution” in section 303(4) for certain transactions.","body":"A person, the chief part of the business of which consists in the purchase of the securities of any one issuer and/or its affiliate and in the sale of its own securities to furnish the proceeds with which to acquire the securities of such issuer and/or affiliate, is to be regarded as engaged in the distribution of the securities of such issuer and/or affiliate within the meaning of section 303(4).","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 260—GENERAL RULES AND REGULATIONS, TRUST INDENTURE ACT OF 1939"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"e56fde3da3f2935faf0991bea2977f6107a921e789adf0e6d1dc2498d6492aa7","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-260.3-4-1","next":"us/17-cfr-260.3-4-3"},"notice":"GroundRules: Original legal text. Not legal advice."}