(a) Section 38(b)(1)(A)(ii) of the Arms Export Control Act (22 U.S.C. 2778) provides that persons engaged in the business of brokering activities shall register and pay a registration fee as prescribed in regulations, and that no person may engage in the business of brokering activities without a license issued in accordance with the Act.

(b) All brokering activities identified in this subchapter apply equally to those defense articles and defense services designated in §121.1 of this subchapter and those items designated in 27 CFR 447.21 (U.S. Munitions Import List).

[78 FR 52690, Aug. 26, 2013, as amended at 85 FR 3833, Jan. 23, 2020]