The U.S. Securities and Exchange Commission (SEC) considers revenue-sharing agreements potentially securities. This classification puts them under strict regulatory oversight and requires compliance with specific legal frameworks.
While we're committed to expanding the availability of researchers to offer varied benefits worldwide, including in the U.S., setting up the necessary SEC-compliant brokerage takes time. For now, we've decided to approve only research projects which do not promise this to U.S. individuals.
The strict regulations stem from historical events, particularly the regulatory reforms enacted in response to financial mismanagement on Wall Street in the 1980s. While these rules aim to protect investors, they also make implementing innovative financial tools like revenue sharing in the U.S. more complex.
However, this restriction doesn't apply globally. Non-US researchers are still free to offer revenue-sharing opportunities in the UK, Switzerland, and across Europe, where regulatory environments permit these agreements more easily.
We understand this might be frustrating, but we're working on compliance to bring revenue sharing to the U.S. as soon as possible. Thank you for being patient as we navigate these challenges and work to unlock this feature for our U.S. community.
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