General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 15a-8 -- Exemption for Banks from Section 29 Liability
No contract entered into before January 1, 2003 shall
be void or considered voidable by reason of section
29 of the Act because any bank that is a party to the contract violated the
registration requirements of section 15(a)
of the Act or any applicable provision of the Act and the rules and regulations
thereunder based solely on the bank's status as a broker or dealer when the contract
was created.
No contract entered into before March 31, 2005, shall
be void or considered voidable by reason of section 29 of the Act because any
bank that is a party to the contract violated the registration requirements of
section 15(a) of the Act or any applicable provision of the Act and the rules
and regulations thereunder based solely on the bank's status as a dealer when
the contract was created.
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