### Question
How is the "new hybrid product" defined?


### Answer
The term **new hybrid product** is defined in *15 U.S.C. § 78o* as follows -

> a product that—


(i) was not subjected to regulation by the Commission as a security prior to the date of the enactment of the Gramm-Leach-Bliley Act [Nov

#### Citation:
  - *15 U.S.C. § 78o*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

