Title

SEC Proposes to Exempt Certain Communications Involving Security-Based Swaps from Securities Act Registration
Client Memorandum

Created date

9/16/2014

On September 8, 2014, the Securities and Exchange Commission (“SEC”) proposed a rule to permanently exempt the publication or distribution of certain security-based swap price quotes on a registered or security-based swap execution facility or a national securities exchange (“eligible trading platform”) from constituting “offers” for purposes of the registration requirements of the Securities Act of 1933 (the “Securities Act”).