SEC Proposes to Exempt Certain Communications Involving Security-Based Swaps from Securities Act Registration
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”).
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