WHAT THE LAW DOINCongress, in plain words

The law › Title 15, Commerce and Trade › Chapter 2B

15 U.S.C. 78k: Trading by members of exchanges, brokers, and dealers

Created in 1975 by Public Law 94-29. Changed by 4 later laws. No bill we track in this Congress changes it.

3 other sections of the Code cite this one, including 7 U.S.C. 2, 15 U.S.C. 78f, 15 U.S.C. 78o.

2 parts of federal rules cite it as their authority, written by Securities and Exchange Commission (2).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    1994

    • Pub. L. 103–325 inserted "or any small business related security" after "mortgage related security". · (d)

    1993

    • Pub. L. 103–68, §1(1), struck out "(other than an investment company)" after "trust". · (a)
    • Pub. L. 103–68, §1(2)–(4), added subpar. (H) and redesignated former subpar. (H) as (I). · (a), (I)

    1984

    • Pub. L. 98–440 designated existing provisions of par. (1) as cl. (i) and added cl. (ii). · (d)

    1978

    • Pub. L. 95–283 substituted "February 1, 1978" for "May 1, 1975", and "February 1, 1979" for "May 1, 1978" in two places. · (a)

    1975

    • Pub. L. 94–29, §6(2), prohibited stock exchange members from effecting any transaction on the exchange for its own account, the account of an associated person, or an account with respect to which the member or an associated person exercises investment discretion, exempted from that pr… · (a)
    • Pub. L. 94–29, §6(2), struck out requirement that specialist's dealings be limited to those transactions reasonably necessary to permit him to maintain a fair and orderly market, expanded the Commission's rulemaking authority in the area of specialist's dealings so that the Commission … · (b)
    • Pub. L. 94–29, §6(3), struck out subsec. (e) which directed the Commission to make a study, to be submitted on or before Jan. 3, 1936, of the feasibility of segregating the functions of dealer and broker. · (e)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.