General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 15c1-3 -- Misrepresentation by Brokers, Dealers and Municipal Securities Dealers as to Registration
The term "manipulative, deceptive, or
other fraudulent device or contrivance," as used in Section
15(c)(1) of the Act, is hereby defined to include any representation by a broker,
dealer or municipal securities dealer that the registration of a broker or dealer,
pursuant to Section 15(b) of the Act, or the
registration of a municipal securities dealer pursuant to Section
15B(a) of the Act, or the failure of the Commission to deny or revoke such registration,
indicates in any way that the Commission has passed upon or approved the financial
standing, business, or conduct of such registered broker, dealer or municipal securities
dealer or the merits of any security or any transaction or transactions therein.
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