ARSD 20:08:07:36. Designated foreign jurisdiction

In designating a foreign jurisdiction under SDCL 47-31B-202(23), the director shall consider whether a foreign jurisdiction's laws provide substantially similar protection to investors as is provided by the Securities Exchange Act of 1934 with respect to securities listed on a national securities exchange in the United States. However, the director may waive a particular requirement for national exchanges under the Securities Exchange Act of 1934 when making a determination for designating a foreign jurisdiction or exchange designation.