The objective of this research article is to make an introduction to the regulation of securities in the U.S. to understand the operations and rules of this capital market. Its knowledge has remarkable importance in order to value the dynamics of a market that is an attractive alternative for financing Colombian companies. Currently, it is possible to obtain many alternatives for private funding. One of those alternatives is the securities market. As a result of globalization, the access to international securities markets allows local emitters the possibility to attain resources originated in outer saving and in the same way foreign emitters can obtain resources from a local investor. Colombia has not remained a stranger to this market integration process. At the current time there are several Colombian companies that have been emitting their titles in external capital markets. For the above mentioned, it is important to have a greater knowledge of the operation of external capital markets, in particular the North American securities market.