On August 24, the U.S. Court of Appeals for the Second Circuit affirmed the District Court’s decision in Kirschner v. JPMorgan Chase Bank, N.A., ruling that bank loans are not classified as securities. The court’s latest decision supports previous regulatory practice that syndicated loans are not subject to state and federal securities laws.
Second Circuit Rules Syndicated Loans Are Not Securities
Published on August 25, 2023
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