SEC Division of Corporation Finance no-action letter: Credit Suisse AG

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

DIVISION OF
CORPORATION FINANCE
November 16, 2012
Mr. Peter H. Bresnan
Simpson Thacher & Bartlett LLP
1155 F Street, NW
Washington, DC 20004
Re: In the Matter of Credit Suisse AG (HO-11546) Credit Suisse AG – Waiver Request of Ineligible Issuer Status under Rule 405 of the Securities Act Dear Mr. Bresnan:
This is in response to your letter dated November 8, 2012, written on behalf of Credit Suisse AG (Company) and Credit Suisse Securities (USA) LLC, DLJ Mortgage Capital, Inc., Credit Suisse First Boston Mortgage Acceptance Corp., Credit Suisse First Boston Mortgage Securities Corp., and Asset Backed Securities Corporation (Subsidiaries) and constituting an application for relief from the Company being considered an “ineligible issuer” under Rule 405(1)(vi) of the Securities Act of 1933 (Securities Act). The Company requests relief from being considered an “ineligible issuer” under Rule 405, due to the entry on November 16, 2012, of a Commission Order (Order) pursuant to
Section 8A of the Securities Act and Section 21C of the Securities Exchange Act of 1934 naming the
Subsidiaries, as respondents. The Order requires that, among other things, the Subsidiaries cease and desist from committing or causing any violations and any future violations of Section 17(a)(2) and 17(a)(3) of the Securities Act. Based on the facts and representations in your letter, and assuming the Company and the Subsidiaries comply with the Order, the Commission, pursuant to delegated authority has determined that the Company has made a showing of good cause under Rule 405(2) of the Securities Act and that the Company will not be considered an ineligible issuer by reason of the entry of the Order. Accordingly, the relief described above from the Company being an ineligible issuer under Rule 405 of the Securities Act is hereby granted. Any different facts from those represented or non-compliance with the Order might require us to reach a different conclusion. Sincerely, /s/ Lona Nallengara Deputy Director Division of Corporation Finance