Federal Bureau of Investigation, and shall perform such criminal record checks and other background and database checks with respect to a regional center, new commercial enterprise, and any affiliated job-creating entity, and persons involved with such entities, to determine whether such entities are in compliance with clauses (i) and (ii). (II) Effect of noncompliance The Secretary, after the completion of the background checks described in subclause (I), shall notify a regional center, new commercial enterprise, or affiliated job-creating entity whether any individual involved with such entities is not in compliance with clause (i) or (ii). If the regional center, new commercial enterprise, or affiliated job-creating entity fails to discontinue the prohibited individual’s involvement with such entity within 30 days after receiving a notification under this subclause, the regional center, new commercial enterprise, or affiliated job-creating entity shall be deemed to have knowledge that such person is in violation of clause (i) or (ii). (I) Compliance with securities laws (i) Jurisdiction (I) In general The United States has jurisdiction, including subject matter 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. (II) Compliance with regulation s 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 (17 C.F.R. 230.901 et seq.) to the extent that such offering or selling otherwise complies with such regulation. Subclause (I) may not be construed to modify any existing regulations or interpretations of the Securities and Exchange Commission related to the application of section 15 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o ) to foreign broker dealers. (ii) Regional center certifications required (I) Initial