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Can you summarize Nevada GCCB Regulation 15?
Regulations of the Nevada Gaming Commission and Control Board > Regulation 15
Short Summary
Regulation 15 governs institutional investors who own or intend to own equity securities issued by a corporate licensee or holding company. It allows institutional investors to apply for a waiver of certain requirements if they hold the securities for investment purposes only. However, institutional investors cannot receive or hold a waiver if they will own more than 15 percent of the voting or equity securities, except through a debt restructuring. The document outlines the application process for a waiver, including the required information and certifications. The Board and Commission will consider all relevant information in determining whether to grant a waiver. The document also specifies the actions that would be considered inconsistent with holding securities for investment purposes only. It further addresses the obligations and restrictions imposed on institutional investors who have been granted a waiver. The document emphasizes the need for compliance with the Nevada Gaming Control Act and regulations and provides provisions for enforcement and penalties for non-compliance.
Whom does it apply to?
Institutional investors
What does it govern?
Institutional investors who own or intend to own equity securities issued by a corporate licensee or holding company
What are exemptions?
Institutional investors can apply for a waiver of certain requirements if they hold the securities for investment purposes only. However, they cannot receive or hold a waiver if they will own more than 15 percent of the voting or equity securities, except through a debt restructuring.
What are the Penalties?
The document specifies provisions for enforcement and penalties for non-compliance, but the specific penalties are not mentioned.
Jurisdiction
Nevada