§ 302.064. Stock Exchange exemption from agent registration.

 Under the authority contained in section 302(f) of the act (70 P. S. §  1-302(f)), the Commission deems it appropriate in the public interest to exempt agents from the registration provisions of section 301 of the act (70 P. S. §  1-301), if all the following requirements are met:

   (1)  The agent is representing a broker-dealer which meets the following requirements:

     (i)   Registered under section 301 of the act.

     (ii)   A member of a National securities exchange registered with the United States Securities and Exchange Commission under the Securities Exchange Act of 1934 (15 U.S.C.A. § §  78a—78kk).

   (2)  The agent’s only customers are broker-dealers registered with the United States Securities and Exchange Commission under the Securities Exchange Act of 1934 or section 301 of the act.

   (3)  The agent is not subject to a currently effective order under section 305 of the act (70 P. S. §  1-305) denying, suspending, conditioning or revoking registration or an order of the Commission issued under section 512 of the act (70 P. S. §  1-512).

   The provisions of this §  302.064 issued under sections 302(f) and 609(a) of the Pennsylvania Securities Act of 1972 (70 P. S. § §  1-302(f) and 1-609(a)).

   The provisions of this §  302.064 adopted March 9, 1990, effective March 10, 1990, 20 Pa.B. 1407; amended December 28, 2001, effective December 29, 2001, 31 Pa.B. 7032. Immediately preceding text appears at serial page (268808).