Section 70. Exemption from the act of securities purchased or sold by odd-lot dealers

Latest version.

Securities purchased or sold by an odd-lot dealer (i) in odd lots so far as reasonably necessary to carry on odd-lot transactions or (ii) in round lots to offset odd-lot transactions previously or simultaneously executed or reasonably anticipated in the usual course of business, shall be exempt from the provisions of the Act (Section 38.2-214 of the Code of Virginia) with respect to participation by such odd-lot dealer in such transactions.

Historical Notes

Derived from Regulation 5, Case No. 18773, Rule 7, eff. April 1, 1970.

Statutory Authority

§ 38.2-214 of the Code of Virginia.

                    
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