§ 78e. Transactions on unregistered exchanges

192 words·~1 min read·/usc/title-15/section-78e

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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, § 5, 48 Stat. 885.)

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Sec. 303
Eligibility of alternative trading systems

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June 6, 1934, ch. 404
48 Stat. 885
64 Stat. 1265

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§ 78e

Transactions on unregistered exchanges

Fed. Reg.×72

Bills×4

C.F.R.×4

Stat.×4

U.S.C.×2

U.S.C.§ 78f

U.S.C.§ 78d

ActJune 6, 1934, ch. 404

Stat.48 Stat. 885

Stat.64 Stat. 1265

Cites 5Cited by 86 across 5 sources