Regulatory Alerts2014-09-11 | 2014-21676Added · Updated
Treatment of Certain Communications Involving Security-Based Swaps That May Be Purchased Only by Eligible Contract Participants
The Securities and Exchange Commission proposes Rule 135d under the Securities Act of 1933 to clarify that certain communications regarding security-based swaps are not deemed offers to the public. This rule applies specifically to price quotes for security-based swaps that may be purchased only by eligible contract participants and are traded on registered or exempt security-based swap execution facilities. By establishing this exemption, the Commission aims to facilitate market transparency and liquidity without triggering the registration requirements of Section 5 of the Securities Act for these specific institutional communications.
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