Structured Thoughts -- Volume 3, Issue 7 April 19, 2012 -- SEC Announces Sweep Relating to Structured Products


In April 2012, the SEC’s Division of Corporate Finance announced that it had sent a letter to certain financial institutions relating to their structured note offerings.

The SEC’s letter consists of 14 numbered paragraphs. The letter contains several statements of the Staff’s positions relating to structured notes (some of which repeats, or elaborates on, prior guidance), and requests for additional information from issuers (some of which may lead to further issuer-specific comments). As discussed in more detail below, the letter may lead to a variety of changes in current offering practices, as well as additional regulatory actions by the SEC.

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Published In: Administrative Agency 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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