Securities Lawyer's Deskbook                          published by The University of Cincinnati College of Law

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Rule 406T -- Temporary Rule Related to Interactive Data Files [Effective Apr. 13, 2009, through Oct. 31, 2014.]

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1. Scope. Section 232.406T addresses the liability for the Interactive Data File. An Interactive Data File is subject to the same liability provisions as the Related Official Filing except as provided in paragraphs (b) and (c) of this section.
   
   
2. In general. The Interactive Data File, regardless of whether it is an exhibit to a document incorporated by reference into filings:
   
   
   1. Is subject to the anti-fraud provisions of section 17(a)(1) of the Securities Act, section 10(b) of the Exchange Act, Rule 240.10b-5 of this chapter, and section 206(1) of the Investment Advisers Act except as provided in paragraph (c) of this section;
      
      
   2. Is deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act, is deemed not filed for purposes of section 18 of the Exchange Act or section 34(b) of the Investment Company Act, and otherwise is not subject to liability under these sections; and
      
      
   3. Is deemed filed for purposes of Rule 232.103.
      
      
3. Good faith attempts and prompt correction. Subject to paragraph (b) of this section, the Interactive Data File shall be subject to liability for a failure to comply with Rule 232.405, but shall be deemed to have complied with Rule 232.405 and would not be subject to liability under the anti-fraud provisions set forth in paragraph (b)(1) of this section or under any other liability provision if the electronic filer:
   
   
   1. Makes a good faith attempt to comply with Rule 232.405; and
      
      
   2. After the electronic filer becomes aware that the Interactive Data File fails to comply with Rule 232.405, promptly amends the Interactive Data File to comply with RUle 232.405.
      
      
4. Temporary section. Section 232.406T is a temporary section that applies to an Interactive Data File submitted to the Commission less than 24 months after the electronic filer first was required to submit an Interactive Data File to the Commission pursuant to Rule 232.405, not taking into account any grace period, but no later than October 31, 2014. After these dates, an Interactive Data File is subject to the same liability provisions as the Related Official Filing. This temporary section will expire on October 31, 2014.
   
   

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