SEC Rule 15a-6
To engage in securities transactions with United States (US) clients, non-US firms must comply with Rule 15a-6 requirements. This rule provides limited exemptions to the US registration requirement for firms. 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.
- 20 Minutes
- For all staff
Learning objectives
- 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
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Conduct Rule 1: Act with Integrity
Integrity is a fundamental principle in financial services, ensuring ethical conduct and maintaining customer trust.
Conduct Rule 2: Act with due skill, care and diligence
People working in financial services must act with due skill, care and diligence, ensuring their actions do not harm customers or the financial system.
Conduct Rule 3: Be open and cooperative with the FCA, the PRA and other regulators
Financial services firms and employees must be open and cooperative with regulators, including the Financial Conduct Authority and the Prudential Regulation Authority.
Conduct Rule 4: Pay due regard to the interests of customers and treat them fairly
Financial services professionals must always act in the best interests of customers and ensure they are treated fairly.
Conduct Rule 5: Observe proper standards of market conduct
Financial markets rely on trust, integrity and adherence to established rules and ethical behaviour.
Conduct Rule 6: Act to deliver good outcomes for retail customers
Financial services professionals must act in good faith, prevent foreseeable harm and support customers in achieving their financial objectives.