{"data":{"id":"us/17-cfr-247.781","jurisdiction":"us","citation":"17 CFR 247.781","heading":"Exemption from the definition of “broker” for banks for a limited period of time.","body":"A bank is exempt from the definition of the term “broker” under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) until the first day of its first fiscal year commencing after September 30, 2008.","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 247—REGULATION R—EXEMPTIONS AND DEFINITIONS RELATED TO THE EXCEPTIONS FOR BANKS FROM THE DEFINITION OF BROKER"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"ce29cb2e0457513fa8bdb5a26273f81dd77ca42b8c57fa94feabf2b33b3858a1","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-247.780","next":"us/17-cfr-248.1"},"notice":"GroundRules: Original legal text. Not legal advice."}