(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 title.
(b) The provisions of
this title 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
title.
(c) No provision of this title that was
added by the Wall Street Transparency and Accountability Act of 2010,
or any rule or regulation thereunder, shall apply to any person insofar
as such person transacts a business in security-based swaps without
the jurisdiction of the United States, unless such person transacts
such business in contravention of such rules and regulations as the
Commission may prescribe as necessary or appropriate to prevent the
evasion of any provision of this title that was added by the Wall
Street Transparency and Accountability Act of 2010. This subsection
shall not be construed to limit the jurisdiction of the Commission
under any provision of this title, as in effect prior to the date
of enactment of the Wall Street Transparency and Accountability Act
of 2010.
[15 USC 78dd. As amended by act of July 21, 2010 (124 Stat. 1802).]
