Qualifying over-the-counter option

Qualifying over-the-counter option means an equity option that
(1) Is not traded on a national securities exchange registered with the Securities and Exchange Commission; and
(2) Is entered into with—
(i) A broker-dealer, acting as principal or agent, who is registered with the Securities and Exchange Commission under section 15 of the Securities Act of 1934 (15 U.S.C. 78a through 78mm) and the regulations thereunder and who must comply with the recordkeeping requirements of 17 CFR 240.17a–3; or
(ii) An alternative trading system under 17 CFR 242.300 through 17 CFR 242.303; or
(iii) A person, acting as principal or agent, who must comply with the recordkeeping requirements for securities transactions described in 12 CFR 12.3, 12 CFR 208.34, or 12 CFR 344.4.

Source

26 CFR § 1.1092(c)-4


Scoping language

None
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