(A) The prohibitions in Section 39-73-20 do not apply to transactions offered by and in which any of the following persons, or an employee, an officer, or a director of them acting solely in that capacity, is the purchaser or seller:
(1) a person registered with the Commodity Futures Trading Commission as a futures commission merchant or as a leverage transaction merchant whose activities require registration;
(2) a person registered with the Securities and Exchange Commission as a broker-dealer whose activities require registration;
(3) a person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by, a person referred to in item (1) or (2);
(4) a person who is a member of a contract market designated by the Commodity Futures Trading Commission, or clearinghouse of it;
(5) a financial institution;
(6) a person registered under the laws of this State as a securities broker-dealer whose activities require registration.
(B) The exemptions in this section do not apply to a transaction or an activity prohibited by the Commodity Exchange Act or a CFTC Rule.
HISTORY: 1993 Act No. 68, Section 1, eff 200 days after approval (approved May 14, 1993).
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