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Up to Aug 23 2015Aug 24 2015 onwards

1060. Persons Exempt from Registration

SR-FINRA-2017-007 has been approved by the SEC. The effective date has not been determined. Upon effectiveness, this rule will no longer be applicable; please consult the appropriate FINRA rule.

(a) The following persons associated with a member are not required to be registered with the Association:

(1) persons associated with a member whose functions are solely and exclusively clerical or ministerial;

(2) persons associated with a member who are not actively engaged in the investment banking or securities business;

(3) persons associated with a member whose functions are related solely and exclusively to the member's need for nominal corporate officers or for capital participation; and

(4) persons associated with a member whose functions are related solely and exclusively to:

(A) effecting transactions on the floor of a national securities exchange and who are registered as floor members with such exchange;

(B) transactions in municipal securities;

(C) transactions in commodities; or

(D) transactions in security futures, provided that any such person is registered with a registered futures association.

Amended by SR-FINRA-2014-037 eff. Aug. 24, 2015.
Amended by SR-NASD-2002-40 eff. Oct. 15, 2002.
Amended by SR-NASD-98-86 eff. Nov. 19, 1998.
Amended by SR-NASD-95-39 eff. Aug. 20, 1996.
Amended by SR-NASD-94-51 eff. Feb. 15, 1995.
Amended by SR-NASD-88-12 eff. Nov. 2, 1988.
Amended by SR-NASD-80-01 eff. June 26, 1980.

Selected Notices: 95-37, 15-07.

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