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What is the SEC 15a-6?

Rule 15a-6 provides conditional exemptions from registration under the Exchange Act that permit non-US broker-dealers to engage in certain activities in the United States, and/or with US persons without having to register with the SEC.

What is 15a6 rule?

What is Rule 15a-6? Rule 15a-6 defines permissible activities which foreign broker-dealers may undertake in the United States without becoming subject to the broker-dealer registration requirements of the Securities Exchange Act of 1934 (the “Exchange Act”).

What is a foreign associated person?

(2) the term “foreign associated person” shall mean any natural person domiciled outside he United States who is an associated person, as defined in section 3(a)(18) of the Act, of the foreign broker or dealer, and who participates in the solicitation of a U.S. institutional investor or a major U.S. institutional …

What is a chaperone agreement?

Chaperone agreement means a plan or agreement that describes who will supervise a community protection program client when service provider staff is not present. This plan or agreement is negotiated with other agencies and individuals who support the client, including the client’s legal representative and family.

What is a Musii?

The Nine Firms letter provided significant relief by expand- ing the MUSII definition to include all entities (including cor- porations and partnerships) owning or controlling more than $100 million in aggregate financial assets and investment advisers (even those not registered with the SEC) with more than $100 …

What is considered correspondence under Finra rules?

As revised, FINRA Rule 2210(a)(2) defines “correspondence” as “any written (including electronic) communication that is distributed or made available to 25 or fewer retail investors within any 30 calendar-day period.” Thus, the current distinction between existing retail customers and prospective retail customers is …

What is 15c2 11?

Rule 15c2-11 is designed to address fraudulent behavior that is generally associated with trading in stocks in the over-the-counter (OTC) market. The combination of high retail investor participation and sparse information about certain issuers is fertile ground for fraud in this market.

What is a Regulation S Security?

Because equity securities of domestic issuers placed under Regulation S will be treated as “restricted securities” under Rule 144, the holding period will be tolled for securities purchased with a promissory note unless certain conditions under Rule 144 are satisfied.

In which formats may retail communications be delivered according to FINRA Rule 2210?

A sales script used in a seminar is considered a retail communication under FINRA Rule 2210 (assuming the script is used with more than 25 retail investors within a 30 calendar-day period).

Does correspondence have to be filed with FINRA?

Correspondence and institutional communications are not subject to any filing requirement with FINRA.

What are the new OTC rules?

On September 28, 2021, companies trading in the United States over-the-counter securities markets (“OTC Markets”) that do not comply with amended Rule 15c-211 will no longer be eligible for quotation on the OTC Markets, effectively eliminating their public quotation in the United States.