Debt capital markets in the United States: regulatory overview

Legislative Restrictions on Selling Debt Securities -

What are the main restrictions on offering and selling debt securities in your jurisdiction?

Main restrictions on offering and selling debt securities -

Offerings of debt securities must either be registered with the Securities and Exchange Commission (SEC) ( under section 5 of the Securities Exchange Act of 1933, as amended (15 USC 77a et seq) (Securities Act), or qualify for an applicable exemption from registration. Exemptions from registration include those under:

..Rule 144A under the Securities Act (Rule 144A)

..Regulation S under the Securities Act (Regulation S).

..Section 3(a)(2) of the Securities Act (section 3(a)(2))(see question 3.)

Originally published in Capital Markets Multi-Jurisdictional Guide 2014.

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Topics:  Debt Market, Debt Securities, Financial Regulatory Reform, Securities Act of 1933

Published In: General Business Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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