; or (V) any applicable provision of State law. (B) Other persons A person who is not an issuer, an entity controlled by an issuer (including a person that acquires an ancillary asset from such an issuer for the purpose of resale or distribution of the ancillary asset), or a person acting at the direction or on the behalf of an issuer shall be not required to treat an ancillary asset provided by, or on behalf of, an issuer as a security under this Act or any provision of law described in subparagraph (A)(ii). (C) Exception (i) In general Subparagraph (A) shall not apply to an ancillary asset if the United States Court of Appeals for the District of Columbia Circuit, after an appropriate proceeding, issues an order finding by clear and convincing evidence that the ancillary asset meets not less than 1 of the bases for exclusion under subsection (a)(1)(B). (ii) Rules of construction Nothing in this subparagraph shall be construed to preclude the Commission from entering into a settlement agreement relating to violations or alleged violations of this section. Compliance under this section shall not be used in any administrative or judicial proceeding as evidence that an ancillary asset is a security. (5) Calculation For the purposes of paragraphs (1), (2), and (3), the calculation of daily aggregate value shall be based on data disclosed by spot markets or otherwise available to the public for inspection. (c) Specified periodic disclosure requirements If an issuer is subject to paragraph (1), (2), or (3) of subsection (b), the issuer shall file, or cause the relevant affiliate to file, with the Commission, on a semi-annual basis, information that the Commission may, by rule, require relating to the issuer and any relevant ancillary asset, as necessary or appropriate in the public interest or for the protection of investors, which shall be exclusively comprised of the following: (1) Basic corporate information regarding the issuer, including the following: (A) The experience of the issuer in developing assets similar