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15 U.S.C. 77z–3: General exemptive authorityText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 15-COMMERCE AND TRADECHAPTER 2A-SECURITIES AND TRUST INDENTURES
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§77z–3. General exemptive authority

The Commission, by rule or regulation, may conditionally or unconditionally exempt any person, security, or transaction, or any class or classes of persons, securities, or transactions, from any provision or provisions of this subchapter or of any rule or regulation issued under this subchapter, to the extent that such exemption is necessary or appropriate in the public interest, and is consistent with the protection of investors.

( May 27, 1933, ch. 38 , title I, § 28, as added Pub. L. 104–290, title I, § 105(a) , Oct. 11, 1996 , 110 Stat. 3424 ; amended Pub. L. 105–353, title III, § 301(a)(5) , Nov. 3, 1998 , 112 Stat. 3235 .)

Editorial Notes

Amendments

1998⁠—Pub. L. 105–353 made technical correction relating to placement of section in subchapter.