A 'U.S. Person' is defined as one who is permanently resident inside the USA.
The SEC’s interpretation of U.S. federal securities laws limits Non U.S. Broker-Dealers to working with those permanently resident outside the USA. Non U.S. broker-dealers cannot approach and/ or solicit U.S. resident persons because an Internet Web site is interpreted by the SEC as being the same as a telephone call to a client.
Non U.S. broker-dealers maintaining an Internet Web site can thus only accept a U.S. person if he or she has not been solicited either directly or indirectly through accessing their web sites under the 'unsolicited' exemption Rule 15a-6. U.S. customers wanting to work with Non U.S. broker-dealers can thus only approach Non U.S. broker-dealers under Rule 15a-6 if they have not been to their web sites and should be prepared to certify this fact in writing to ensure compliance with applicable law.
This limitation with respect to U.S. Persons does not apply to Spot Forex, which is currently an unregulated financial product under MiFID.
