General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 15c1-6 -- Disclosure of Interest in Distribution
The term "manipulative, deceptive, or
other fraudulent device or contrivance," as used in Section
15(c)(1) of the Act, is hereby defined to include any act of any broker who is
acting for a customer or for both such customer and some other person, or of any
dealer or municipal securities dealer who receives or has promise of receiving a
fee from a customer for advising such customer with respect to securities, designed
to effect with or for the account of such customer any transaction in, or to induce
the purchase or sale by such customer of, any security in the primary or secondary
distribution of which such broker, dealer or municipal securities dealer is participating
or is otherwise financially interested unless such broker, dealer or municipal securities
dealer, at or before the completion of each such transaction gives or sends to such
customer written notification of the existence of such participation or interest.
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