15 U.S.C. § 77z-3 : US Code - Section 77Z-3: General exemptive authority

Search 15 U.S.C. § 77z-3 : US Code - Section 77Z-3: General exemptive authority

The Commission, by rule or regulation, may conditionally or
unconditionally exempt any person, security, or transaction, or any
class or classes of persons, securities, or transactions, from any
provision or provisions of this subchapter or of any rule or
regulation issued under this subchapter, to the extent that such
exemption is necessary or appropriate in the public interest, and
is consistent with the protection of investors.