00-29 ;
Section 4k(1);
Interpretation
The Division of Trading and Markets determined that an employee of an IB fell within the clerical capacity exception to the AP registration requirement under Section 4k(1) of the CEAct because the employee's duties in connection with the solicitation and acceptance of customer orders were limited to giving price quotes and accepting customer orders for commodity interest contracts. The employee would not have any discretion over any of the IB's customer accounts, the employee would be paid on an hourly basis, and one of the IB's AP's would supervise the employee.