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Reg A / A + , Rule 1 4 7 / 1 4 7 A , Reg d , Rule 1 4 4 A ,

Reg A / A+, Rule 147/147A, Reg d, Rule 144A, Reg S, Rule 144 and Crowdfunding are all ____ transactions. US Gov securities, US gov agency securities, nonprofit securities, muni bonds, commercial paper and other ST debt w/ maturity under 270 days, and securities of federal / state banks are always ___ from registration.

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