Structured Thoughts -- Volume 4, Issue 4 -- February 28, 2013

In This Issue:

Additional SEC Guidance on Estimated Value Disclosures; 2013 OCIE Examination Priorities Have Implications for Structured Products Issuers and Dealers; EITF and the Federal Funds Rate; and FDIC Proposes to Nix Insurance for Dually Payable Deposits.

Excerpt from Additional SEC Guidance on Estimated Value Disclosures -

In February 2013, the Staff of the Division of Corporation Finance 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, market participants have been focused on revising their structured products 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 and secondary market pricing practices.

Please see full issue below for more information.

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Topics:  Dually Payable Deposits, EITF, Estimated Value Disclosures, OCIE, Prioritized Examination, SEC, Structured Financial Products

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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