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.
15 U.S. Code § 77z–3 - General exemptive authority
1998—Pub. L. 105–353 made technical correction relating to placement of section in subchapter.
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