RegAlert2014-08-15
Added · Updated
SEC Division of Corporation Finance no-action letter: First Trust Exchange-Traded Fund IV
The Commission staff grants exemptive and no-action relief from Rule 14e-5 to the First Trust Strategic Income ETF and its market participants. This relief permits dealer-managers of tender offers to redeem Fund Shares in Creation Units and engage in secondary market transactions involving securities subject to such offers. It also allows broker-dealers to purchase Creation Units even when the basket contains fewer than 20 securities or covered securities exceed 5% of the basket's value, provided the purchases are made in the ordinary course of business and not to facilitate the tender offer.
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Attorneys at Law · Focused on Finance" russell@chapman.com Securities Exchange Act of 1934 Rule 14e-5 August 15,2014 Ms. Michele M. Anderson, Chief Mr. Daniel F. Duchovny, Special Counsel Office of Mergers and Acquisitions Division of Corporation Finance Securities and Exchange Commission 100 F Street, N.E. Washington, DC 20549 Re: Request for Exemptive and No-Action Relief
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