### Question
What is the definition of gross revenues from the securities business?


### Answer
The definition of **gross revenues from the securities business** is as follows in *15 U.S.C. § 78lll*:

> the sum of (but without duplication)—


 (A) commissions earned in connection with transactions in securities effected for customers as agent (net of commissions paid to other brokers and dealers in connection with such transactions) and markups with respect to purchases or sales of securities as principal

#### Citation:
  - *15 U.S.C. § 78lll*
  - Heading: **CHAPTER 2B&ndash;1-SECURITIES INVESTOR PROTECTION**

