17 C.F.R. § 240.15a-7 Exemption from the definitions of “broker” or “dealer” for banks for limited period of time.
Title 17 - Commodity and Securities Exchanges
(a) A bank is exempt from the definitions of the term “broker” under Section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) and the term “dealer” under Section 3(a)(5) of the Act (15 U.S.C. 78c(a)(5) until October 1, 2001; and (b) A bank is exempt from the definition of the term “broker” under Section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) until January 1, 2002, for activities that meet the conditions of an exception or exemption for banks from the definition of the term “broker” except for those conditions of Section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) and the rules thereunder relating to compensation of the bank or its employees. [66 FR 27799, May 18, 2001]
Title 17: Commodity and Securities Exchanges
PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934
Registration of Brokers and Dealers
§ 240.15a-7 Exemption from the definitions of “broker” or “dealer” for banks for limited period of time.
