The provisions of section 12(a) of the Act (15 U.S.C. § 78l(a)) do not apply in respect of any standardized option, as defined by section 240.9b-1(a)(4), issued by a clearing agency registered under section 17A of the Act (15 U.S.C. §§ 78q1) and traded on a national securities exchange registered pursuant to section 6(a) of the Act (15 U.S.C. § 78f(a)).

[68 FR 192, Jan. 2, 2003]