Foreign Brokers are Required to Register with the SEC
Foreign brokers are prohibited from providing brokerage, investment banking or other financial services in the U.S. without registering with the Securities and Exchange Commission (the “SEC”). Registration with the SEC requires a significant amount of management time, attention and resources. The compliance, capital and other requirements of registration are complex and expensive.
Exemption Under Rule 15a-6 Allows Foreign Brokers to Trade in the U.S.
Enclave provide all the benefits of have an SEC-registered broker-dealer without the tedious and expensive application process, capital requirements and on-going costs.
Through the SEC Rule 15a-6 exemption, a foreign bank or broker-dealer can establish a correspondent relationship with Enclave to distribute research and trade with large U.S. financial institutions.