SEC Issues Statement on Certain Provisions of Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants

Orrick - Finance 20/20
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On October 31, the Securities Exchange Commission (“SEC“) issued a statement setting forth its position, for a limited time, that certain actions with respect to specific provisions of its Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants will not provide a basis for SEC enforcement action. The statement also addresses the SEC’s position on the ability of parties to security-based swaps to rely on written representations previously provided in relation to swaps. Release.

 

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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