What type of distribution network is shown in this diagram? 
Definitions:
Exempted Offerings
Securities offerings that are released from the registration requirements with the SEC, generally due to their limited nature.
Shareholder Proposals
Suggestions or demands made by shareholders for consideration and action by the company's board of directors.
Rule 10b-5
A regulation enacted by the Securities and Exchange Commission dealing with fraud and manipulation in the securities markets.
Insider Trading
The illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information.
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