Securities Lawyer's Deskbook                          published by The University of Cincinnati College of Law

Rule 15b11-1 -- Registration by Notice of Security Futures Product Broker-Dealers

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1. A broker or dealer may register by notice pursuant to section 15(b)(11)(A) of the Act if it:
   
   
   1. Is registered with the Commodity Futures Trading Commission as a futures commission merchant or an introducing broker, as those terms are defined in the Commodity Exchange Act (7 U.S.C. 1, et seq.), respectively;
      
      
   2. Is a member of the National Futures Association or another national securities association registered under section 15A(k) of the Act; and
      
      
   3. Is not required to register as a broker or dealer in connection with transactions in securities other than security futures products.
      
      
2. A broker or dealer registering by notice pursuant to section 15(b)(11)(A) of the Act must file Form BD-N (17 CFR 249.501b) in accordance with the instructions to the form. A broker or dealer registering by notice pursuant to this section must indicate where appropriate on Form BD-N that it satisfies all of the conditions in paragraph (a) of this section.
   
   
3. If the information contained in any notice of registration filed on Form BD-N (17 CFR 249.501b) pursuant to this section is or becomes inaccurate for any reason, the broker or dealer shall promptly file an amendment on Form BD-N correcting such information.
   
   
4. An application for registration by notice, and any amendments thereto, that are filed on Form BD-N (17 CFR 249.501b) pursuant to this section will be considered a "report" filed with the Commission for purposes of sections 15(b), 17(a), 18(a), 32(a) and other applicable provisions of the Act.
   
   

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