Structured Thoughts -- Volume 4, Issue 1 -- January 16, 2013

In This Issue:

Additional SEC Guidance on Estimated Value Disclosures; FINRA to Continue Its Focus on Structured Products; FINRA’s Ketchum Discusses Structured Products; FINRA Issues Q&A Guidance on New Communications Rules; and FINRA Proposal Requires Disclosure of Enhanced Compensation.

Excerpt from Additional SEC Guidance on Estimated Value Disclosures -

The Staff of the Division of Corporation Finance has provided additional guidance to a number of issuers relating to their structured note disclosures. Since the release of the SEC’s “sweep letter” in April 2012,1 market participants have been focused on revising their offering documents to address the issues raised in the letter. The new guidance relates to the portions of the sweep letter that have generated the most discussion, that is, the new requested disclosures relating to the “estimated initial value” of structured notes.

Please see full issue below for more information.

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Topics:  Estimated Value Disclosures, ETFs, ETNs, Executive Compensation, FINRA, Prospectus, SEC

Published In: 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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