Series 24: 1.1.1.6. Foreign Broker-Dealers

1.1.1.6. Foreign Broker-Dealers

All broker-dealers operating in the United States must register with the SEC. Foreign broker-dealers operating outside the U.S. must register with the SEC if they conduct business with any person inside the United States.

Foreign broker-dealers are exempt from SEC registration if they participate only in a handful of specific activities. These activities include:

• Effecting unsolicited securities transactions, meaning transactions initiated