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

§ 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).


   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)).


   The provisions of this §  302.064 adopted March 9, 1990, effective March 10, 1990, 20 Pa.B. 1407; amended December 28, 2001, effective December 29, 2001, 31 Pa.B. 7032; transferred and renumbered from 64 Pa. Code §  302.064, 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 page (364732).

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