§78e — Title 15 Commerce and Trade | U.S. Code

Summary

Illegal for any broker, dealer, or exchange to use the mail or interstate commerce to make or report trades on a U.S. exchange unless the exchange is registered under section 78f, or the Commission exempts it because its trading volume is limited and registration isn’t practicable or needed to protect investors or the public interest.

Title 15, §78e

Commerce and Trade — Source: USLM XML via OLRC

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.

Executive Documents

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, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.

§78e Transactions on unregistered exchanges

Summary

Title 15, §78e

Notes & Related Subsidiaries

Executive Documents

Transfer of Functions

Transfer of Functions

Citations & Metadata