8.5.22
Members of Congress Submit Bipartisan Letter on SEC Rule 15c2-11
In late July twenty members of Congress submitted a bipartisan letter to the Securities and Exchange Commission (SEC) regarding its enforcement of Rule 15c2-11 and the negative implications for 144A debt offerings. In the letter, both Republicans and Democrats expressed concern that the Rule’s application to fixed income products will make it more difficult and expensive for privately held companies to raise capital through 144A offerings, ultimately harming investors. Members of Congress urged the SEC to introduce a formal rulemaking process to allow feedback from market participants and adequately analyze the costs and benefits affiliated with the significant changes.
SFA is actively engaging Capitol Hill and SEC staff to advocate on behalf of the structured finance industry regarding Rule 15c2-11. Read SFA’s letter to the SEC addressing the ramifications in applying the Rule to ABS by clicking here.