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15 U.S.C. § 78c–2 — Securities-related derivatives
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Any agreement, contract, or transaction (or class thereof) that is exempted by the Commodity Futures Trading Commission pursuant to [section 6(c)(1) of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6/c/1&num=0&edition=prelim) with the condition that the Commission exercise concurrent jurisdiction over such agreement, contract, or transaction (or class thereof) shall be deemed a security for purposes of the securities laws.
**(b)** With respect to any agreement, contract, or transaction (or class thereof) that is exempted by the Commodity Futures Trading Commission pursuant to [section 6(c)(1) of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6/c/1&num=0&edition=prelim) with the condition that the Commission exercise concurrent jurisdiction over such agreement, contract, or transaction (or class thereof), references in the securities laws to the “purchase” or “sale” of a security shall be deemed to include the execution, termination (prior to its scheduled maturity date), assignment, exchange, or similar transfer or conveyance of, or extinguishing of rights or obligations under such agreement, contract, or transaction, as the context may require.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78c–2
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Stable record: federal_law:legal_authorities:record_usc_50a627b0b509d34964f646c2
Source file: Laws/federal/codes/united-states-code/title-15/section-78c2-securities-related-derivatives--2fc1027a33.md
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Source location: Title 15, Chapter 2B, § 78c–2; chapter-2b-securities-exchanges.md
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**(a)** Any agreement, contract, or transaction (or class thereof) that is exempted by the Commodity Futures Trading Commission pursuant to [section 6(c)(1) of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6/c/1&num=0&edition=prelim) with the condition that the Commission exercise concurrent jurisdiction over such agreement, contract, or transaction (or class thereof) shall be deemed a security for purposes of the securities laws.
**(b)** With respect to any agreement, contract, or transaction (or class thereof) that is exempted by the Commodity Futures Trading Commission pursuant to [section 6(c)(1) of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6/c/1&num=0&edition=prelim) with the condition that the Commission exercise concurrent jurisdiction over such agreement, contract, or transaction (or class thereof), references in the securities laws to the “purchase” or “sale” of a security shall be deemed to include the execution, termination (prior to its scheduled maturity date), assignment, exchange, or similar transfer or conveyance of, or extinguishing of rights or obligations under such agreement, contract, or transaction, as the context may require.
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter:
(1) **Alternative trading system** — The term “alternative trading system” means an organization, association, or group of persons that—
(A) is registered as a broker or dealer pursuant to section 15(b) of the Securities Exchange Act of 1934 [[15 U.S.C. 78](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78&num=0&edition=prelim)o(b)] (except paragraph (11) thereof);
(B) performs the functions commonly performed by an exchange (as defined in section 3(a)(1) of the Securities Exchange Act of 1934 [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)]);
(C) does not—
(i) set rules governing the conduct of subscribers other than the conduct of such subscribers’ trading on the alternative trading system; or
(ii) discipline subscribers other than by exclusion from trading; and
(D) is exempt from the definition of the term “exchange” under such section 3(a)(1) [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)] by rule or regulation of the Securities and Exchange Commission on terms that require compliance with regulations of its trading functions.
(2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency”—
(A) has the meaning given the term in [section 1813 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim);
(B) means the Board in the case of a noninsured State bank; and
(C) is the Farm Credit Administration for farm credit system institutions.
(3) **Associated person of a security-based swap dealer or major security-based swap participant** — T
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Commodity Futures Trading Commission** Except as provided in subsections (b), (c), and (d), the Commission shall have exclusive authority to enforce the provisions of subtitle A of the Wall Street Transparency and Accountability Act of 2010 with respect to any person.
**(b) Prudential regulators** The prudential regulators shall have exclusive authority to enforce the provisions of [section 6s(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6s/e&num=0&edition=prelim) with respect to swap dealers or major swap participants for which they are the prudential regulator.
**(c) Referrals**
(1) **Prudential regulators** — If the prudential regulator for a swap dealer or major swap participant has cause to believe that the swap dealer or major swap participant, or any affiliate or division of the swap dealer or major swap participant, may have engaged in conduct that constitutes a violation of the nonprudential requirements of this chapter (including [section 6s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6s&num=0&edition=prelim) or rules adopted by the Commission under that section), the prudential regulator may promptly notify the Commission in a written report that includes—
(A) a request that the Commission initiate an enforcement proceeding under this chapter; and
(B) an explanation of the facts and circumstances that led to the preparation of the written report.
(2) **Commission** — If the Commission has cause to believe that a swap dealer or major swap participant that has a prudential regulator may have engaged in conduct that constitutes a violation of any prudential requirement of [section 6s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-pr
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 6b–1
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