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.

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SEC Rule 15a-6

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

Course outline

Welcome

Introduction to SEC Rule 15a-6

- Registration
- Customer classification
- Security

Structure of Rule 15a-6

- 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

FCA Courses Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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Course Specifications

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Structure

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

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Audience

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

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Design

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

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Test-Out

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment simply bypassing the assessment.

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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.

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Tailoring

Fully customisable on Skillcast Portal CMS.

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Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

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Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.