It shall be unlawful for any broker or dealer,
directly or indirectly, to make use of the mails or of any means or instrumentality
of interstate commerce for the purpose of effecting on an exchange not within
or subject to the jurisdiction of the United States, any transaction in any
security the issuer of which is a resident of, or is organized under the laws
of, or has its principal place of business in, a place within or subject to
the jurisdiction of the United States, in contravention of such rules and
regulations as the Commission may prescribe as necessary or appropriate in
the public interest or for the protection of investors or to prevent the evasion
of this title.
The provisions of this title or of any rule or
regulation thereunder shall not apply to any person insofar as he transacts
a business in securities without the jurisdiction of the United States, unless
he transacts such business in contravention of such rules and regulations
as the Commission may prescribe as necessary or appropriate to prevent the
evasion of this title.
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