Diana and Marlon Paz from the SEC Division of Trading and Markets gave a PLI telephone briefing about the SEC’s proposed amendments to Securities Exchange Act Rule 15a-6. The rule provides a conditional exemption from broker-dealer regulation for certain limited activities of foreign broker-dealers conducting transactions with U.S. customers. The SEC adopted Rule 15a-6 in 1989 and the proposed amendments were intended to reflect increasing securities market internationalization and changes in technology and communication.