0150. Application of Rules to Exempted Securities Except Municipal Securities

(a) For purposes of this Rule, the terms "exempted securities" and "municipal securities" shall have the meanings specified in Sections 3(a)(12) and 3(a)(29) of the Exchange Act, respectively.

(b) The Rules are not intended to be, and shall not be construed as, rules concerning transactions in municipal securities.

(c) Unless otherwise indicated within a particular Rule, the following rules are applicable to transactions in, and business activities relating to, exempted securities, except municipal securities, conducted by members and associated persons: Rules 1020, 2010, 2020, 2060, 2111, 2122, 2150, 2210, 2211, 2212, 2231, 2232, 2261, 2268, 2269, 2320(g), 3110, 3210, 3220, 3260, 3270, 3280, 4120, 4130, 4210, 4311, 4330, 4360, 4510 Series, 4530, 5160, 5210, 5220, 5230, 5310, 5340, 6700 Series, 8110, 8120, 8210, 8310, 8311, 8312, 8320, 8330 and 9552.

(d) FINRA Rule 2121 is applicable to transactions in, and business activities relating to, exempted securities that are government securities.