General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 15a-4 -- Forty-five Day Exemption From Registration for Certain Members of National Securities Exchanges
A natural person who is a member of a national securities
exchange shall, upon termination of his association with a registered broker-dealer,
be exempt, for a period of forty-five days after such termination, from the registration
requirement of Section 15(a) of the Act solely
for the purpose of continuing to effect transactions on the floor of such exchange
if
such person has filed with the Commission an application
for registration as a broker-dealer and such person complies in all material respects
with rules of the Commission applicable to registered brokers and dealers and
such exchange has filed with the Commission a statement
that it has reviewed such application and that there do not appear to be grounds
for its denial.
The exemption from registration provided by this rule
shall not be available to any person while there is pending before the Commission
any proceeding involving any such person pursuant to Section
15(b)(1)(B) of the Act.
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