15 U.S. Code § 77z–3 - General exemptive authority
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.
Source(May 27, 1933, ch. 38, title I, § 28, as added Pub. L. 104–290, title I, § 105(a),Oct. 11, 1996, 110 Stat. 3424; amended Pub. L. 105–353, title III, § 301(a)(5),Nov. 3, 1998, 112 Stat. 3235.)
1998—Pub. L. 105–353made technical correction relating to placement of section in subchapter.