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15 U.S.C. § 80b–6a — Exemptions

submitted 86 years ago by Pub. L. 91-547 to r/title-15-COMMERCE-AND-TRADE · 84 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section lets the SEC exempt people or transactions from this law's rules. It can act on its own or grant an exemption after someone applies. Any exemption must serve the public interest and be consistent with investor protection.

The SEC — on its own motion by rule or regulation, or by order after an application — may exempt any person, transaction, or class of people or transactions from any provision of this subchapter or its rules, fully or with conditions, but only if and to the extent the exemption is necessary or appropriate in the public interest, consistent with protecting investors, and consistent with the purposes this subchapter's policy and provisions are fairly intended to serve.
the actual law source: uscode.house.gov ↗public domain

The Commission, by rules and regulations, upon its own motion, or by order upon application, may conditionally or unconditionally exempt any person or transaction, or any class or classes of persons, or transactions, from any provision or provisions of this subchapter or of any rule or regulation thereunder, if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of this subchapter.

Source credit: (Aug. 22, 1940, ch. 686, title II, § 206A, as added Pub. L. 91–547, § 26, Dec. 14, 1970, 84 Stat. 1433.)

history & why it existsrecord from the source credit
  • 1940Enacted · Pub. L. 91-547 · 84 Stat. 1433

A history note hasn’t been published yet. The record shows enactment by Pub. L. 91-547 on 1940-08-22.

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