> ## Knowledge Base Index
> Fetch the complete knowledge base index at: https://biasinvestors.crisp.help/sitemap.xml
> Use this file to discover available pages before exploring further.
> Pure-Markdown content can be obtained by appending a '.md' suffix to the content URLs listed in the sitemap (without the trailing slash).

# Exempt Transaction

A transaction that permits the security involved to be sold without registration under the Securities Act of 1933. Examples include Reg A and Reg D (Private Placement) offerings.