17 CFR 240.36a1-2

§ 240.36a1-2 Exemption from SIPA for OTC derivatives dealers.

United States · 17 CFR — Commodity and Securities Exchanges · Status: effective

Cite this

Citation: 17 CFR 240.36a1-2, § 240.36a1-2 Exemption from SIPA for OTC derivatives dealers, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69458
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Full text

OTC derivatives dealers are a special class of broker-dealers that are exempt from certain broker-dealer requirements, including membership in a self-regulatory organization (§ 240.15b9-2), regular broker-dealer margin rules (§ 240.36a1-1), and application of the Securities Investor Protection Act of 1970 (§ 240.36a1-2). OTC derivative dealers are subject to special requirements, including limitations on the scope of their securities activities (§ 240.15a-1), specified internal risk management control systems (§ 240.15c3-4), recordkeeping obligations (§ 240.17a-3(a)(10)), and reporting responsibilities (§ 240.17a-12). They are also subject to alternative net capital treatment (§ 240.15c3-1(a)(5)). OTC derivatives dealers, as defined in § 240.3b-12, shall be exempt from the provisions of the Securities Investor Protection Act of 1970 (15 U.S.C. 78aaa through 78lll).

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.