CITE

    15 USC Sec. 78dd                                            01/08/2008

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2B - SECURITIES EXCHANGES

HEAD

    Sec. 78dd. Foreign securities exchanges

STATUTE

      (a) It shall be unlawful for any broker or dealer, directly or
    indirectly, to make use of the mails or of any means or
    instrumentality of interstate commerce for the purpose of effecting
    on an exchange not within or subject to the jurisdiction of the
    United States, any transaction in any security the issuer of which
    is a resident of, or is organized under the laws of, or has its
    principal place of business in, a place within or subject to the
    jurisdiction of the United States, in contravention of such rules
    and regulations as the Commission may prescribe as necessary or
    appropriate in the public interest or for the protection of
    investors or to prevent the evasion of this chapter.
      (b) The provisions of this chapter or of any rule or regulation
    thereunder shall not apply to any person insofar as he transacts a
    business in securities without the jurisdiction of the United
    States, unless he transacts such business in contravention of such
    rules and regulations as the Commission may prescribe as necessary
    or appropriate to prevent the evasion of this chapter.

SOURCE

    (June 6, 1934, ch. 404, title I, Sec. 30, 48 Stat. 904.)

REFERENCES IN TEXT

      This chapter, referred to in subsecs. (a) and (b), was in the
    original "this title". See References in Text note set out under
    section 78a of this title.

TRANSFER OF FUNCTIONS

      For transfer of functions of Securities and Exchange Commission,
    with certain exceptions, to Chairman of such Commission, see Reorg.
    Plan No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
    64 Stat. 1265, set out under section 78d of this title.