# COMAR 02.02.04.06: COMAR 02.02.04.06. Designated Exchange Exemption

> Maryland · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_06

## Section

- **Citation:** COMAR 02.02.04.06
- **Heading:** COMAR 02.02.04.06. Designated Exchange Exemption
- **Jurisdiction:** Maryland
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Code of Maryland Regulations / Title 02 OFFICE OF THE ATTORNEY GENERAL / Subtitle 02 DIVISION OF SECURITIES / Chapter 04 Exemption from Registration Regulations / COMAR 02.02.04.06

## Text

A. Definitions.
(1) “CBOE” means The Chicago Board Options Exchange.
(2) “NASDAQ/NMS” means the National Association of Securities Dealers Automated Quotations/National Market System.
(3) “Release” means Securities Act Release 33-6810 published at 53 FR 52550 (1988), which is incorporated by reference.
(4) “SEC” means the Securities and Exchange Commission.
B. Exempt Securities. The following securities shall be exempted from the provisions of the Maryland Securities Act, Corporations and Associations Article, §§ 11-205 and 11-501 , Annotated Code of Maryland:
(1) Any security listed or approved for listing upon notice of issuance on NASDAQ/NMS, provided that this designation may be revoked if the Commissioner finds that the listing standards have been so changed or insufficiently applied that the protection of investors contemplated by the standards for listing in the Release is no longer afforded;
(2) Any security listed or approved for listing upon notice of issuance on the CBOE, provided that this designation may be revoked if the Commissioner finds that the:
(a) Listing standards have been so changed or insufficiently applied that the protection of investors contemplated by the standards for listing in the Release is no longer afforded; or
(b) CBOE has failed to promptly notify the Commissioner in writing that it has:
(i) Made a rule filing with the SEC proposing to list a type of security not provided for in the listing standards contained in the Release and has failed to provide the Commissioner with a copy of the rule filing, or
(ii) Proposed to list a security under its listing standards for “other securities” that raises significant new regulatory issues requiring a rule filing with the SEC and has failed to provide the Commissioner with a copy of the rule filing;
(3) Any other security of the same issuer that is of senior or substantially equal rank;
(4) Any security called for by subscription rights or warrants that are exempted under §B(1) or (2) of this regulation; and
ndards for “other securities” that raises significant new regulatory issues requiring a rule filing with the SEC and has failed to provide the Commissioner with a copy of the rule filing;
(3) Any other security of the same issuer that is of senior or substantially equal rank;
(4) Any security called for by subscription rights or warrants that are exempted under §B(1) or (2) of this regulation; and
(5) Any warrant or right to purchase or subscribe to any security that is exempted under §B(1) or (2) of this regulation.

## Nearby sections

- [COMAR 02.02.04.01 COMAR 02.02.04.01. Requirements for Compliance with Not-for-Profit Exemption](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_01.md)
- [COMAR 02.02.04.02 COMAR 02.02.04.02. Employee Benefit Plans](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_02.md)
- [COMAR 02.02.04.03 COMAR 02.02.04.03. Existing Security Holder Exemption](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_03.md)
- [COMAR 02.02.04.04 COMAR 02.02.04.04. Designated Institutional Investor](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_04.md)
- [COMAR 02.02.04.05 COMAR 02.02.04.05. Recognized Securities Manuals](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_05.md)
- [COMAR 02.02.04.06 COMAR 02.02.04.06. Designated Exchange Exemption](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_06.md)
- [COMAR 02.02.04.07 COMAR 02.02.04.07. Designated Clearing Agency Exemption](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_07.md)
- [COMAR 02.02.04.08 COMAR 02.02.04.08. Bank Securities](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_08.md)
- [COMAR 02.02.04.09 COMAR 02.02.04.09. Maryland Limited Offering Exemption (MLOE): Scope and Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_09.md)
- [COMAR 02.02.04.10 COMAR 02.02.04.10. MLOE: Generally Applicable Conditions](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_10.md)
- [COMAR 02.02.04.11 COMAR 02.02.04.11. MLOE: Local Issuer Exemption](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_11.md)
- [COMAR 02.02.04.12 COMAR 02.02.04.12. MLOE: General Transactional Exemption](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_12.md)
- [COMAR 02.02.04.13 COMAR 02.02.04.13. MLOE: Insignificant Deviations](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_13.md)
- [COMAR 02.02.04.14 COMAR 02.02.04.14. Exemption from the Maryland Securities Act, Corporations and Associations Article, §11-601(16), Annotated Code of Maryland, for Certain Securities](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_02_02_04_06. Check the current official text before relying on it. Not legal advice.