respectively. (L) Compliance with securities laws (i) Jurisdiction (I) In general The United States has jurisdiction over the purchase or sale of any security offered or sold by any regional center or any party associated with a regional center for purposes of the securities laws. Subject matter jurisdiction shall also lie within the United States. (II) Compliance with regulations Solely for purposes of section 5 of the Securities Act of 1933 ( 15 U.S.C. 77e ), a regional center or any party associated with a regional center is not precluded from offering or selling a security pursuant to Regulation S under the Securities Act of 1933 ( 15 U.S.C. 77a et seq.) to the extent that such offering or selling otherwise complies with that regulation. (ii) Regional center certifications required (I) Initial certification The Secretary of Homeland Security may not approve an application for regional center designation or regional center amendment unless the regional center certifies that, to the best of the certifier’s knowledge, after a due diligence investigation, the regional center is in compliance with and has policies and procedures, such as those related to internal and external due diligence, reasonably designed to confirm, as applicable, that all parties associated with the regional center are and will remain in compliance with the securities laws of the United States and of any State in which the offer, purchase, or sale of securities was conducted, or the issuer of securities was located, or the investment advice was provided by the regional center or parties associated with the regional center. (II) Reissue A regional center shall annually reissue a certification described in subclause (I) in accordance with subparagraph (J). Annual certifications under this subclause shall also certify compliance with clause (iii) by stating that— (aa) the certifier is in a position to have knowledge of the offers, purchases, and sales of securities or the provision of investment advice by parties associated with the regional