10 Pa. Code § 302.064 - Stock Exchange exemption from agent registration

Under the authority contained in section 302(f) of the act (70 P.S. § 1-302(f)), the Department considers it appropriate and in the public interest to exempt agents from the registration provisions of section 301 of the act (70 P.S. § 1-301), if all the following requirements are met:

(1) The agent is representing a broker-dealer which is:

(i) Registered under section 301 of the act.

(ii) A member of a National securities exchange.

(2) The agent's only customers are broker-dealers registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (15 U.S.C.A. §§ 78a-78qq) or section 301 of the act.

(3) The agent is not subject to either of the following:

(i) A currently effective order under section 305 of the act (70 P.S. § 1-305) denying, suspending, conditioning or revoking registration.

(ii) A currently effective order of the Department issued under section 512 of the act (70 P.S. § 1-512).

Notes

10 Pa. Code § 302.064

The provisions of this § 302.064 adopted March 9, 1990, effective 3/10/1990, 20 Pa.B. 1407; amended December 28, 2001, effective 12/29/2001, 31 Pa.B. 7032; transferred and renumbered from 64 Pa. Code § 302.064, December 14, 2012, effective 12/15/2012, 42 Pa.B. 7533; amended January 12, 2018, effective 1/13/2018, 48 Pa.B. 389.

The provisions of this § 302.064 issued under sections 302(f) and 609(a) of the Pennsylvania Securities Act of 1972 (70 P. S. §§ 1-302(f) and 1-609(a)); amended under section 202.C of the Department of Banking and Securities Code (71 P.S. § 733-202.C); section 609(a) of the Pennsylvania Securities Act of 1972 (70 P.S. § 1-609(a)); and section 9(b) of the Takeover Disclosure Law (70 P.S. § 79(b)).