What is 33b?

33b refers to a specific clause within the Securities Exchange Act of 1934 in the United States. This clause addresses the liability of controlling persons.

Specifically, Section 20(a) of the Act states that every person who, directly or indirectly, controls any person liable under any provision of this title or of any rule or regulation thereunder shall also be liable jointly and severally with and to the same extent as such controlled person to any person to whom such controlled person is liable, unless the controlling person acted in good faith and did not directly or indirectly induce the act or acts constituting the violation or cause of action.

Therefore, 33b is likely a reference to the broader subject of Liability%20of%20Controlling%20Persons under the Securities Exchange Act. The key aspect is establishing "control" and whether the controlling person acted in Good%20Faith.