General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 15b9-1 -- Exemption for Certain Exchange Members
Any broker or dealer required by Section
15(b) of the Act to become a member of a registered national securities association
shall be exempt from such requirement if it:
Is a member of a national securities exchange,
carries no customer accounts, and
has annual gross income derived from purchases and sales of
securities otherwise than on a national securities exchange of which it is a member
in an amount no greater than $1,000.
The gross income limitation contained in paragraph
(a) of this section, shall not apply to income derived from transactions
for the dealer's own account with or through another registered
broker or dealer or
through the Intermarket Trading System.
For purposes of this section, the term Intermarket
Trading System shall mean the
intermarket communications linkage operated jointly by certain self-regulatory
organizations
pursuant to a plan filed with, and approved by, the Commission pursuant
to Rule 242.608 of this
chapter.
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