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Paragraph: 503. Commission rulemaking The Securities and Exchange Commission shall revise the definition of held of record pursuant to section 12(g)(5) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l(g)(5) ) to implement the amendment made by section 502. The Commission shall also adopt safe harbor provisions that issuers can follow when determining whether holders of their securities received the securities pursuant to an employee compensation plan in transactions that were exempt from the registration requirements of section 5 of the Securities Act of 1933.