894 Registration of un- issued securities . R egist ratio n of secu- rities listed on national exchanges. Trading in unlisted securities; study and report. Au thority o f Com- mission to allow ; ap- plication of national exchange. Status of such secu- rity. Periodical and other reports. Filing by issuer of security, required . Form of reports . 73d C ONGRESS . SESS. II. CH. 404. JUNE 6, 1934. An unissued security may be registered only in accordance with such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors. Such rules and regulations shall limit the registration of an unissued security to cases where such security is a right or the subject of a right to subscribe or otherwise acquire such security granted to holders of a previously registered security and where the primary purpose of such registration is to distribute such unissued security to such holders . (e) Notwithstanding the foregoing provisions of this section, the Commission may by such rules and regulations as it deems necessary or appr opriate in the publi c inter est or for th e prote ction o f inve stors permit securities listed on any exchange at the time the registration of such exchange as a national securities exchange becomes effective, to be register ed for a peri od ending not later than Ju ly 1, 1935, without complying with the provisions of this section . (f) The Commission is directed to make a study of trading in unlisted securities upon exchanges and to report the results of its study and its recommendatio ns to Congres s on or before January 3, 1936 . Notwithstanding the foregoing provisions of this section, the Commission may, by such rules and regulations as it deems neces- sary or appropriate for the protection of investors, prescribe terms and conditions under which, upon the application of any national sec urities excha nge, such exc hange (1) may continue unti l June 1, 1936, unlisted trading privileges to which a security had been admit- ted on such ex change prior to March 1, 1 934, and for s uch purpose exempt such security and the issuer thereof from the provisions of this section and sections 13 and 16, or (2) may extend until July 1, 1935, unlisted trading privilege to any security registered on any other national securities exchange which security was listed on such other exchange on March 1, 1934 . A security for which unlisted trading privileges are so continued shall be considered a " security registered on a national securities exchange " within the meaning of this title . The rules and regulations of the Commission relating to such unlisted trading privileges for securities shall require that quotations of transactions upon any national securities exchange shall clearly indicate the difference between fully listed securities and securities admitted to unlisted trading privileges only . PE RIO DIC AL AND OTHER REPORTS SEC . 13 . (a) Every issuer of a security registered on a national securities exchange shall file the information, documents, and reports below specified with the exchange (and shall file with the Commission such duplicate originals thereof as the Commission may require), in accordance with such rules and regulations as the Commission may prescribe as necessary or appropriate for the proper protection of investors and to insure fair dealing in the se curity - (1) Such information and documents as the Commission may require to keep reasonably current the information and documents filed pursuant to section 12 . (2) Such annual reports, certified if required by the rules and regulations of the Commission by independent public accountants, and such quarterly reports, as the Commission may prescribe . (b ) The Commis sion m ay pr escrib e, in regar d to r eports made pursuant to this title, the form or forms in which the required infor- mation shall be set forth, the items or details to be shown in the
