17 CFR § 240.36a1-2 - Exemption from SIPA for OTC derivatives dealers.

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identifier: "/us/cfr/t17/s240.36a1-2"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "17 CFR § 240.36a1-2 - Exemption from SIPA for OTC derivatives dealers."
title_number: 17
title_name: "Commodity and Securities Exchanges"
section_number: "240.36a1-2"
section_name: "Exemption from SIPA for OTC derivatives dealers."
chapter_name: "SECURITIES AND EXCHANGE COMMISSION"
part_number: "240"
part_name: "GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
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generator: "[email protected]"
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cfr_part: "240"
---


# 240.36a1-2 Exemption from SIPA for OTC derivatives dealers.

OTC derivatives dealers are a special class of broker-dealers that are exempt from certain broker-dealer requirements, including membership in a self-regulatory organization (§ 240.15b9-2), regular broker-dealer margin rules (§ 240.36a1-1), and application of the Securities Investor Protection Act of 1970 (§ 240.36a1-2). OTC derivative dealers are subject to special requirements, including limitations on the scope of their securities activities (§ 240.15a-1), specified internal risk management control systems (§ 240.15c3-4), recordkeeping obligations (§ 240.17a-3(a)(10)), and reporting responsibilities (§ 240.17a-12). They are also subject to alternative net capital treatment (§ 240.15c3-1(a)(5)).

OTC derivatives dealers, as defined in § 240.3b-12, shall be exempt from the provisions of the Securities Investor Protection Act of 1970 (15 U.S.C. 78aaa through 78lll).

[63 FR 59404, Nov. 3, 1998]