Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

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10 Pa. Code § 302.063. Financial institutions exempt from broker-dealer and agentregistration.

§ 302.063. Financial institutions exempt from broker-dealer and agentregistration.

 Under section 302(f) of the act (70 P.S. §  1-302(f)), the Department considers it appropriate and in the public interest to exempt financial institutions and individuals representing financial institutions from the broker-dealer and agent registration provisions of section 301 of the act (70 P.S. §  1-301) if the activities of the financial institution and individuals representing the financial institutions are conducted under a networking arrangement or brokerage affiliate arrangement.

Authority

   The provisions of this §  302.063 issued under section 302(f) of the Pennsylvania Securities Act of 1972 (70 P. S. §  1-302(f)); amended under sections 202(i), 206(b) and (d), 302(f), 606(d), 609(a) and (c) and 610 of the Pennsylvania Securities Act of 1972 (70 P. S. § §  1-202(i), 1-206(b) and (d), 1-302(f), 1-606(d), 1-609(a) and (c) and 1-610); section 202.C of the Department of Banking and Securities Code (71 P.S. §  733-202.C); and section 9(b) of the Takeover Disclosure Law (70 P.S. §  79(b)).

Source

   The provisions of this §  302.063 adopted January 30, 1987, effective January 31, 1987, 17 Pa.B. 570; amended January 8, 1999, effective January 9, 1999, 29 Pa.B. 202; amended September 1, 2000, effective September 2, 2000, 30 Pa.B. 4551; transferred and renumbered from 64 Pa. Code §  302.063, December 14, 2012, effective December 15, 2012, 42 Pa.B. 7533; amended January 12, 2018, effective January 13, 2018, 48 Pa.B. 389. Immediately preceding text appears at serial pages (364731) to (364732).



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