17 C.F.R. § 242.503 Certain foreign research reports.
Title 17 - Commodity and Securities Exchanges
A foreign person, located outside the United States and not associated with a registered broker or dealer, who prepares a research report concerning a foreign security and provides it to a U.S. person in the United States in accordance with the provisions of §240.15a–6(a)(2) of this chapter shall be exempt from the requirements of this regulation.
Title 17: Commodity and Securities Exchanges
PART 242—REGULATIONS M, SHO, ATS, AC, AND NMS AND CUSTOMER MARGIN REQUIREMENTS FOR SECURITY FUTURES
Regulation AC—Analyst Certification
§ 242.503 Certain foreign research reports.