17 CFR 240.15Ba1-3 - Exemption of certain natural persons from registration under section 15B(a)(1)(B) of the Act.

Regulations last checked for updates: Feb 21, 2025

Title 17 - Commodity and Securities Exchanges last revised: Feb 18, 2025

View all text of Part 240 [§ 240.0-1 - § 240.36a1-2]

§ 240.15Ba1-3 - Exemption of certain natural persons from registration under section 15B(a)(1)(B) of the Act.

A natural person municipal advisor shall be exempt from section 15B(a)(1)(B) of the Act (15 U.S.C. 78o-4(a)(1)(B)) if he or she:

(a) Is an associated person of an advisor that is registered with the Commission pursuant to section 15B(a)(2) of the Act (15 U.S.C. 78o-4(a)(2)) and the rules and regulations thereunder; and

(b) Engages in municipal advisory activities solely on behalf of a registered municipal advisor.

[78 FR 67633, Nov. 12, 2013]

authority: Section 240.3a4-1 also issued under secs. 3 and 15, 89 Stat. 97, as amended, 89 Stat. 121 as amended;

cite as: 17 CFR 240.15Ba1-3