Page:United States Statutes at Large Volume 124.djvu/1688

124 STAT. 1662 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(A) IN GENERAL.—The term ‘futures commission mer- chant’ means an individual, association, partnership, cor- poration, or trust— ‘‘(i) that— ‘‘(I) is— ‘‘(aa) engaged in soliciting or in accepting orders for— ‘‘(AA) the purchase or sale of a com- modity for future delivery; ‘‘(BB) a security futures product; ‘‘(CC) a swap; ‘‘(DD) any agreement, contract, or transaction described in section 2(c)(2)(C)(i) or section 2(c)(2)(D)(i); ‘‘(EE) any commodity option author- ized under section 4c; or ‘‘(FF) any leverage transaction authorized under section 19; or ‘‘(bb) acting as a counterparty in any agreement, contract, or transaction described in section 2(c)(2)(C)(i) or section 2(c)(2)(D)(i); and ‘‘(II) in or in connection with the activities described in items (aa) or (bb) of subclause (I), accepts any money, securities, or property (or extends credit in lieu thereof) to margin, guar- antee, or secure any trades or contracts that result or may result therefrom; or ‘‘(ii) that is registered with the Commission as a futures commission merchant. ‘‘(B) FURTHER DEFINITION.—The Commission, by rule or regulation, may include within, or exclude from, the term ‘futures commission merchant’ any person who engages in soliciting or accepting orders for, or acting as a counterparty in, any agreement, contract, or transaction subject to this Act, and who accepts any money, securities, or property (or extends credit in lieu thereof) to margin, guarantee, or secure any trades or contracts that result or may result therefrom, if the Commission determines that the rule or regulation will effectuate the purposes of this Act.’’; (14) in paragraph (30) (as redesignated by paragraph (1)), in subparagraph (B), by striking ‘‘state’’ and inserting ‘‘State’’; (15) by striking paragraph (31) (as redesignated by para- graph (1)) and inserting the following: ‘‘(31) INTRODUCING BROKER.— ‘‘(A) IN GENERAL.—The term ‘introducing broker’ means any person (except an individual who elects to be and is registered as an associated person of a futures commis- sion merchant)— ‘‘(i) who— ‘‘(I) is engaged in soliciting or in accepting orders for— ‘‘(aa) the purchase or sale of any com- modity for future delivery, security futures product, or swap;