Davis Polk partner Christopher Schell and counsel Vidal Vanhoof authored “Exchange-traded notes and similar structured notes” in the second edition of Financial Product Fundamentals: Law, Business, Compliance. In the chapter, they provide an overview of exchange-traded notes (ETNs); describe the threshold legal issues; summarize the registration, disclosure, and listing requirements; highlight the issues that arise when creating, selling, and investing in these products; and discuss additional issues with respect to other types of structured notes that are similar to ETNs, but not listed or traded on a securities exchange.


Read an excerpt of the chapter

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