SEC Proposes New Rule on Communications Involving Security-Based Swaps

Orrick - Finance 20/20
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On September 8, the SEC proposed a new rule that certain communications involving security-based swaps that may be purchased only by eligible contract participants will not be deemed for purposes of Section 5 of the Securities Act to constitute offers of such security-based swaps or any guarantees of such security-based swaps. Comments should be received by the SEC on or before November 10, 2014Proposed Rule.

 

 

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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