General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 11a1-2 -- Transactions for Certain Accounts of Associated Persons of Members
A transaction effected by a member of a national securities exchange for the account
of an associated person thereof shall be deemed to be of a kind which is consistent
with the purposes of Section 11(a)(1) of the
Act, the protection of investors, and the maintenance of fair and orderly markets
if the transaction is effected:
For the account of and for the benefit of an associated
person, if, assuming such transaction were for the account of a member, or
For the account of an associated person but for the
benefit of an account carried by such associated person, if, assuming such account
were carried on the same basis by a member,
the member would have been permitted, under Section 11(a) of the Act and the other
rules thereunder, to effect the transaction:Provided, however,That a transaction may not be effected by a member for the account of
and for the benefit of an associated person under Section 11(a)(1)(G) of the Act
and Rule 11a1-1T thereunder unless the associated
person derived, during its preceding fiscal year, more than 50 percent of its
gross revenues from one or more of the sources specified in Section 11(a)(1)(G)(i)
of the Act.
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