Editing Shell corporation (section)

==SEC definition==
The [[U.S. Securities and Exchange Commission]] defines a "shell company" as follows:
<blockquote>
Shell company: The term shell company means a registrant, other than an asset-backed issuer as defined in Item 1101(b) of Regulation AB (§ 229.1101(b) of this chapter), that has:

(1) No or nominal operations; and

(2) Either:

(i) No or nominal assets;

(ii) Assets consisting solely of cash and cash equivalents; or

(iii) Assets consisting of any amount of cash and cash equivalents and nominal other assets.'<ref>See Rule 12b-2 of the Securities and Exchange Act of 1934</ref><ref>[https://www.law.cornell.edu/cfr/text/17/240.12b-2 Cornell Law School Legal Information Institute] 17 CFR 240.12b-2 - Definitions.</ref>
</blockquote>