EXEMPTED TRANSACTIONS UNDER THE SECURITIES ACT OF 1933.

SEC. 944. EXEMPTED TRANSACTIONS UNDER THE SECURITIES ACT OF 1933.(a) Exemption Eliminated.—Section 4 of the Securities Act of 1933 (15 U.S.C. 77d) is amended—(1) by striking paragraph (5); and(2) by striking “(6) transactions” and inserting the following:124 STAT. 1898 “(5) transactions”.(b) Conforming Amendment.—Section 3(a)(4)(B)(vii)(I) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(4)(B)(vii)(I)) is amended by striking “4(6)” and inserting “4(5)”.