Definitions
Source version current through Jan 15, 2026
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- NYCRR title agency
- Department of Law
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- Jan 15, 2026
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- Sep 13, 2026
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- Related Register notice
- LAW-15-20-00018-A · Adopted rule
- Related notice published
- Dec 2, 2020
- Related notice effective date
- Dec 2, 2020
(a)Definitions.
(1)A broker-dealer is a person or entity that acts as either a broker or a dealer, or both.
(2)Federal covered investment company securities are any security or securities that meet the definition of covered securities, or that will meet such definition upon completion of the transaction, under section 18(b)(2) of the Securities Act of 1933 (15 USC 77r[b][2]).
(3)A Federal covered investment company dealer is any person, firm, association, or corporation satisfying the definition of dealer under GBL 359-e(1)(a) that offers for sale or sells Federal covered investment company securities.
(4)Federal Regulation D covered securities are any security or securities that meet the definition of covered securities, or that will meet such definition upon completion of the transaction, under section 18(b)(4)(F) of the Securities Act of 1933 (15 USC 77r[b][4][F]).
(5)A Federal Regulation D covered securities dealer is any person, firm, association, or corporation satisfying the definition of dealer under GBL section 359-e(1)(a) that offers or sells Federal Regulation D covered securities.
(6)Federal Tier 2 securities are any security or securities that meet the definition of covered securities, or that will meet such definition upon completion of the transaction, under section 18(b)(3) or (b)(4)(D)(ii) of the Securities Act of 1933 (15 USC 77r[b][3] or [b][4][D][ii]).
(7)A Federal Tier 2 dealer is any person, firm, association, or corporation satisfying the definition of dealer under GBL section 359-e(1)(a) that offers or sells Federal Tier 2 securities.
(8)A salesperson has the same definition as salesman under GBL section 359-e(1)(c).