Section 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 Commission deems 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 meets the following requirements:

(i) Registered under section 301 of the act.

(ii) A member of a National securities exchange registered with the United States Securities and Exchange Commission under the Securities Exchange Act of 1934 (15 U.S.C.A. § § 78a—78kk).

(2) The agent’s only customers are broker-dealers registered with the United States Securities and Exchange Commission under the Securities Exchange Act of 1934 or section 301 of the act.

(3) The agent is not subject to a currently effective order under section 305 of the act (70 P. S. § 1-305) denying, suspending, conditioning or revoking registration or an order of the Commission issued under section 512 of the act (70 P. S. § 1-512).

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. Immediately preceding text appears at serial page (317622).

Notation

Authority

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)).