municipal securities dealer

(80)The term “funding portal” means any person acting as an intermediary in a transaction involving the offer or sale of securities for the account of others, solely pursuant to section 4(6) of the Securities Act of 1933 (), that does not— (A)offer investment advice or recommendations; (B)solicit purchases, sales, or offers to buy the securities offered or displayed on its website or portal; (C)compensate employees, agents, or other persons for such solicitation or based on the sale of securities displayed or referenced on its website or portal; (D)hold, manage, possess, or otherwise handle investor funds or securities; or (E)engage in such other activities as the Commission, by rule, determines appropriate. (b)The Commission and the Board of Governors of the Federal Reserve System, as to matters within their respective jurisdictions, shall have power by rules and regulations to define technical, trade, accounting, and other terms used in this chapter, consistently with the provisions and purposes of this chapter. (c)No provision of this chapter shall apply to, or be deemed to include, any executive department or independent establishment of the United States, or any lending agency which is wholly owned, directly or indirectly, by the United States, or any officer, agent, or employee of any such department, establishment, or agency, acting in the course of his official duty as such, unless such provision makes specific reference to such department, establishment, or agency. (d)No issuer of municipal securities or officer or employee thereof acting in the course of his official duties as such shall be deemed to be a “broker”, “dealer”, or “municipal securities dealer” solely by reason of buying, selling, or effecting transactions in the issuer’s securities. (e)


15 USC § 78c(a)(80)

Scoping language

When used in this chapter
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