August 27, 1996
TO: SEC RULES COMMITTEE No. 91-96
SMALL FUNDS COMMITTEE No. 19-96
STATE SECURITIES MEMBERS No. 32-96
UNIT INVESTMENT TRUST MEMBERS No. 39-96
RE: PUERTO RICO ADOPTS BLUE CHIP EXEMPTION
______________________________________________________________________________
The Institute is pleased to inform you that, effective August 11, 1996, Puerto Rico has
amended its securities act to include a blue chip exemption from registration. The Securities
Division has not yet promulgated rules or a form in connection with the exemption. The
Institute will advise you as soon as more details are available.
Marguerite C. Bateman
Assistant Counsel