Code of Federal Regulations · Section
§ 240.15c1-1 — c1-1 Definitions
17 C.F.R. § 240.15c1-1
As used in any rule adopted pursuant to section 15(c)(1) of the Act:
(a) The term customer shall not include a broker or dealer or a municipal securities dealer; provided, however, that the term “customer” shall include a municipal securities dealer (other than a broker or dealer) with respect to transactions in securities other than municipal securities.
(b) The term the completion of the transaction means:
(1) In the case of a customer who purchases a security through or from a broker, dealer or municipal securities dealer, except as provided in paragraph (b)(2) of this section, the time when such customer pays the broker, dealer or municipal securities dealer any part of the purchase price, or, if payment is effected by a bookkeeping entry, the time when such bookkeeping entry is made by the broker, dealer or municipal securities dealer for any part of the purchase price;
(2) In the case of a customer who purchases a security through or from a broker, dealer or municipal securities dealer and who makes payment therefor prior to the time when payment is requested or notification is given that payment is due, the time when such broker, dealer or municipal securities dealer delivers the security to or into the account of such customer;
(3) In the case of a customer who sells a security through or to a broker, dealer or municipal securities dealer except as provided in paragraph (b)(4) of this section, if the security is not in the custody of the broker, dealer or municipal securities dealer at the time of sale, the time when the security is delivered to the broker, dealer or municipal securities dealer, and if the security is in the custody of the broker, dealer or municipal securities dealer at the time of sale, the time when the broker, dealer or municipal securities dealer transfers the security from the account of such customer;
(4) In the case of a customer who sells a security through or to a broker, dealer or municipal securities dealer and who delivers such security to such broker, dealer or municipal securities dealer prior to the time when delivery is requested or notification is given that delivery is due, the time when such broker, dealer or municipal securities dealer makes payment to or into the account of such customer.
Authorizing Statute
-
Records and reports15 U.S.C. § 78q
-
Registration of securities15 U.S.C. § 77f
-
Registration and regulation of brokers and dealers15 U.S.C. § 78o
-
Foreign securities exchanges15 U.S.C. § 78dd
-
Information required in registration statement15 U.S.C. § 77g
-
General provisions of a liquidation proceeding15 U.S.C. § 78fff
-
Necessity for regulation15 U.S.C. § 78b
-
Proxies15 U.S.C. § 78n
-
Classes of securities under this subchapter15 U.S.C. § 77c
-
Registration requirements for securities15 U.S.C. § 78l
-
Executive compensation and corporate governance12 U.S.C. § 5221
-
Findings and purposes12 U.S.C. § 5461
-
Creation; membership; compensation and expenses12 U.S.C. § 241
-
Short title15 U.S.C. § 78a
-
Trading by members of exchanges, brokers, and dealers15 U.S.C. § 78k
-
Manipulative and deceptive devices15 U.S.C. § 78j
-
Operations of designated financial market utilities12 U.S.C. § 5465
-
Definitions and application15 U.S.C. § 78c
-
National securities exchanges15 U.S.C. § 78f
-
Rules, regulations, and orders; annual reports15 U.S.C. § 78w
-
Comprehensive energy plan15 U.S.C. § 781
-
Transaction fees15 U.S.C. § 78ee
-
Failure of corporate officers to certify financial reports18 U.S.C. § 1350