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By virtue of a Securities and Exchange Commission (SEC) order in January 1998 that designates NYSE Arca Tier I listed securities as covered securities for the purposes of Section 18(a) of the Securities Act of 1933, Tier I listings are afforded Blue Sky exemption from state securities laws in all 50 states (SEC Release No. 3-7494, January 2, 1998). Under the SEC's order, Section 18(a) preempts any state registration and fee requirements that would otherwise apply to Tier I listings. Tier II listings are afforded for issuer and non-issuer exemptions in the following states and jurisdictions except where noted below. For further information, please email nysearcalistings@nyse.com.
| State |
Tier |
| |
I |
II |
| Alabama |
X |
|
| Alaska |
X |
X |
| Arizona |
X |
X |
| Arkansas |
X |
X |
| California |
X |
1 |
| Colorado |
X |
X |
| Connecticut |
X |
|
| Delaware |
X |
X |
| Florida |
X |
1 |
| Georgia |
X |
X |
| Hawaii |
X |
X |
| Idaho |
X |
|
| Illinois |
X |
X |
| Indiana |
X |
|
| Iowa |
X |
|
| Kansas |
X |
X3 |
| Kentucky |
X |
|
| Louisiana |
X |
|
| Maine |
X |
|
| Maryland |
X |
|
| Massachusetts |
X |
X |
| Michigan |
X |
|
| Minnesota |
X |
|
| Mississippi |
X |
|
| Missouri |
X |
X |
| Montana |
X |
X |
| Nebraska |
X |
|
| Nevada |
X |
X |
| New Hampshire |
X |
|
| New Jersey |
X |
|
| New Mexico |
X |
X |
| New York |
X |
2 |
| North Carolina |
X |
|
| North Dakota |
X |
|
| Ohio |
X |
|
| Oklahoma |
X |
1 |
| Oregon |
X |
X |
| Pennsylvania |
X |
|
| Rhode Island |
X |
X |
| South Carolina |
X |
|
| South Dakota |
X |
|
| Tennessee |
X |
|
| Texas |
X |
X |
| Utah |
X |
1 |
| Vermont |
X |
|
| Virginia |
X |
|
| Washington |
X |
|
| West Virginia |
X |
|
| Wisconsin |
X |
|
| Wyoming |
X |
|
1. Non-issuer exemption only
2. Issuer transactions may be subject to notice filing requirements
3. Issuer securities described as smal cap or emerging companies shall not be exempt under this exemption.
| Territory |
Tier |
| |
I |
II |
| Puerto Rico |
X |
X |
|
