§ 78e. — Transactions on unregistered exchanges.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC78e]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2B--SECURITIES EXCHANGES
Sec. 78e. Transactions on unregistered exchanges
It shall be unlawful for any broker, dealer, or exchange, directly
or indirectly, to make use of the mails or any means or instrumentality
of interstate commerce for the purpose of using any facility of an
exchange within or subject to the jurisdiction of the United States to
effect any transaction in a security, or to report any such transaction,
unless such exchange (1) is registered as national securities exchange
under section 78f of this title, or (2) is exempted from such
registration upon application by the exchange because, in the opinion of
the Commission, by reason of the limited volume of transactions effected
on such exchange, it is not practicable and not necessary or appropriate
in the public interest or for the protection of investors to require
such registration.
(June 6, 1934, ch. 404, title I, Sec. 5, 48 Stat. 885.)
Transfer of Functions
For transfer of functions of Securities and Exchange Commission,
with certain exceptions, to Chairman of such Commission, see Reorg. Plan
No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat.
1265, set out under section 78d of this title.
Section Referred to in Other Sections
This section is referred to in sections 78o, 78o-4, 78o-5, 78p, 78hh
of this title; title 25 section 646.
