SEC Rule 15a-6 Course

To engage in securities transactions with United States (US) clients, non-US firms must comply with SEC Rule 15a-6 requirements. This rule provides limited exemptions to the US registration requirement for firms.

The US require firms to register as a broker-dealer in the US. To conduct business with US clients under the exemptions of Rule 15a-6, firms must complete a Background Questionnaire and Consent to Service of Process form.

Our SEC Rule 15a-6 Course addresses non-US bank employees, and it explains the exemptions under this rule in doing business in the US.

About this Course

Available as part of our FCA Compliance Library.

Learning Objectives

This course will prepare your employees to:

Understand the prohibitions on non-US employees of the Bank from doing business in the US
Identify the exemptions provided by Rule 15a-6
Recognise the four distinct subsections of Rule 15a-6 and the key terms used
Explain the permissible activities when dealing with US clients under Rule 15a-6
Recognise your obligations when engaging in Rule 15a-6 transactions

Latest Course Updates

Course redesigned with a more modern feel
Full review conducted by an FCA expert
Text & image updates throughout the course

Course outline

Welcome

Introduction to SEC Rule 15a-6

- Which customers?
- Which securities?
- Which communications?
- US registration

The four exemptions

- Rule 15a-6(a)(1) - Unsolicited Exemption
- Rule 15a-6(a)(2) - Research Exemption
- Rule 15a-6(a)(3) - Chaperoning Exemption
- Rule 15a-6(a)(4) - Permissible Direct Counterparties

Personal obligations for research analysis

Scenario: Jacob's trip to New York

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 20-minute long e-learning course followed by a 9-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.