Title 15, Commerce and TradeRelease 119-102
§77z–3 General Exemptive Authority
Title 15 › CHAPTER 2A — SECURITIES AND TRUST INDENTURES › SUBCHAPTER I — DOMESTIC SECURITIES › § 77z–3
Summary
The Commission can exempt any person, security, or transaction from any rule in this part if the exemption is needed for the public interest and still protects investors.
Full Legal Text
Title 15, §77z–3
Commerce and Trade, Source: USLM XML via OLRC
The Commission, by rule or regulation, may conditionally or unconditionally exempt any person, security, or transaction, or any class or classes of persons, securities, or transactions, from any provision or provisions of this subchapter or of any rule or regulation issued under this subchapter, to the extent that such exemption is necessary or appropriate in the public interest, and is consistent with the protection of investors.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1998—Pub. L. 105–353 made technical correction relating to placement of section in subchapter.
Reference
Citations & Metadata
Citation
15 U.S.C. § 77z–3
Title 15, Commerce and Trade
Last Updated
Aug 21, 2026
Release point: 119-102