17 CFR 240.15Ba1-3
§ 240.15Ba1-3 Exemption of certain natural persons from registration under section 15B(a)(1)(B) of the Act.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
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- Citation
- 17 CFR 240.15Ba1-3, § 240.15Ba1-3 Exemption of certain natural persons from registration under section 15B(a)(1)(B) of the Act, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69265
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Full text
A natural person municipal advisor shall be exempt from section 15B(a)(1)(B) of the Act (15 U.S.C. 78o-4(a)(1)(B)) if he or she:
(a) Is an associated person of an advisor that is registered with the Commission pursuant to section 15B(a)(2) of the Act (15 U.S.C. 78o-4(a)(2)) and the rules and regulations thereunder; and
(b) Engages in municipal advisory activities solely on behalf of a registered municipal advisor.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.