Rule 15b9-1 – Exemption for Certain Exchange Members

Rule 15b9-1 provides an exemption for certain broker-dealers from the Securities Exchange Act of 1934 requirement to become a member of a national securities association. Under amendments adopted in August 2023, a broker-dealer relying on the Rule would be permitted to effect securities transactions otherwise than on a national securities exchange of which it is a member if the transactions are solely for the purpose of executing the stock leg of a stock-option order, and the broker-dealer establishes, maintains and enforces written policies and procedures reasonably designed to ensure and demonstrate that such transactions are solely for such purpose. NOTE: This rule was first proposed in 2016; the Commission re-proposed it in 2022. Both the proposals were reviewed by OMB and the Commission is now submitting the final rule's PRA package for OMB's approval.

The latest form for Rule 15b9-1 – Exemption for Certain Exchange Members expires 2026-10-31 and can be found here.

Dealer Policies and Procedures

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight