Page:United States Statutes at Large Volume 114 Part 5.djvu/488

 114 STAT. 2763A-448 PUBLIC LAW 106-554—APPENDIX E "(iv) Section 4j. " (v) Section 4k(l). "(vi) Section 4p. "(vii) Section 6d. "(viii) Subsections (d) ar 1 (g) of section 8. "(ix) Section 16. "(B)(i) Except as provided in clause (ii) of this subparagraph, but notwithstanding any other provision of this Act, the Commission, by rule, regulation, or order, may conditionally or unconditionally exempt any broker or dealer subject to the registration requirement of paragraph (2), or any broker or dealer exempt from registration pursuant to paragraph (3), from any provision of this Act or of any rule or regulation thereunder, to the extent the exemption is necessary or appropriate in the public interest and is consistent with the protection of investors. "(ii) The Commission shall, by rule or regulation, determine the procedures under which an exemptive order under this section shall be granted and may, in its sole discretion, decline to entertain any application for an order of exemption under this section. "(C)(i) A broker or dealer that is registered as a futures commission merchant or introducing broker pursuant to paragraph (2) or an associated person thereof, or that is a floor broker or floor trader exempt from registration pursuant to paragraph (3), shall not be required to become a member of any futures association registered under section 17. "(ii) No futures association registered under section 17 shall limit its members from carrying an account, accepting an order, or trsmsacting business with a broker or dealer that is registered as a futures commission merchant or introducing broker pursuant to paragraph (2) or an associated person thereof, or that is a floor broker or floor trader exempt from registration pursuant to paragraph (3).". (d) EXEMPTIONS FOR ASSOCIATED PERSONS OF SECURITIES BROKER-DEALERS.— Section 4k of the Commodity Exchange Act (7 U.S.C. 6k), is amended by inserting after paragraph (4), as added by subsection (c) of this section, the following: "(5) Any associated person of a broker or dealer that is registered with the Securities and Exchange Commission, and who limits its solicitation of orders, acceptance of orders, or execution of orders, or placing of orders on behalf of others involving any contracts of sale of any commodity for future delivery or any option on such a contract, on or subject to the rules of any contract market or registered derivatives transaction execution facility to security futures products, shall be exempt from the following provisions of this Act and the rules thereunder: "(A) Subsections (b), (d), (e), and (g) of section 4c. "(B) Sections 4d, 4e, and 4h. "(C) Subsections (b) and (c) of section 4f. " (D) Section 4j. "(E) Paragraph (1) of this section. "(F) Section 4p. "(G) Section 6d. "(H) Subsections (d) and (g) of section 8. "(I) Section 16.".

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