New York Codes, Rules and Regulations
Title 13 - DEPARTMENT OF LAW
Chapter II - SECURITIES TRANSACTIONS AND PERSONNEL
Subchapter A - SECURITIES-GENERAL
Part 10 - BROKERS, DEALERS AND SALESPERSONS
Section 10.10 - Definitions
Universal Citation: 13 NY Comp Codes Rules and Regs ยง 10.10
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Definitions;
(1) A "broker-dealer" is a person or entity
that acts as either a broker or a dealer, or both.
(2) "Federal Covered Investment Company
Securities" are any security or securities that meet the definition of covered
securities, or that will meet such definition upon completion of the
transaction, under Section 18 (b)(2) of the Securities Act of 1933
(15 USC
77r(b)(2)).
(3) A "Federal Covered Investment Company
Dealer" is any person, firm, association, or corporation satisfying the
definition of dealer under GBL 359-e (1)(a) that offers for sale or sells
Federal Covered Investment Company Securities.
(4) "Federal Regulation D Covered Securities"
are any security or securities that meet the definition of covered securities,
or that will meet such definition upon completion of the transaction, under
Sections 18(b)(4)(F) of the Securities Act of 1933 (15 USC
77r(b)(4)(F)).
(5) A "Federal Regulation D Covered
Securities Dealer" is any person, firm, association, or corporation satisfying
the definition of dealer under GBL § 359-e (1)(a) that offers or sells
Federal Regulation D Covered Securities.
(6) "Federal Tier 2 Securities" are any
security or securities that meet the definition of covered securities, or that
will meet such definition upon completion of the transaction, under Section
18(b)(3) or (b)(4)(D)(ii) of the Securities Act of 1933 (15 USC
77r(b)(3) or
(b)(4)(D)(ii)).
(7) A "Federal Tier 2 Dealer" is any person,
firm, association, or corporation satisfying the definition of dealer under GBL
§ 359-e (1)(a) that offers or sells Federal Tier 2 Securities.
(8) A "Salesperson" has the same definition
as "salesman" under GBL § 359-e (1)(c).
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