§ 240.11a1-2 Transactions for certain accounts of associated persons of members.  


Latest version.
  • 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:

    (a) For the account of and for the benefit of an associated person, if, assuming such transaction were for the account of a member, or

    (b) 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.

    (Secs. 2, 3, 4, 6, 7, 11, 18, 89 Stat. 97, 104, 110, 111, 121, 155 (15 U.S.C. 78b, 78c, 78f, 78k, 78k-1, 78 o, 78w); secs. 2, 3, 10, 23, 48 Stat. 881, 882, 891, 901, as amended (15 U.S.C. 78j))

    [43 FR 11553, Mar. 17, 1978; 43 FR 14451, Apr. 6, 1978]