Rule 15c2-11 Relief for Fixed Income Securities | Mayer Brown Free Writings + Perspectives
Broker-dealers have been gearing up for changes with Rule 15c2-11 compliance for fixed income securities since the prior relief was set to expire on January 4, 2025. The SEC had given some relief for Rule 144A securities, but it didn’t cover all bases for broker-dealers. However, there’s good news – the SEC staff issued a no-action letter last Friday offering further relief for fixed income securities. This means broker-dealers can continue providing quotes as long as either the issuer or the securities meet one of seven specific criteria, such as asset-backed securities or securities of an issuer filing call reports with a banking agency. For more details, check out the no-action letter relief issued by the SEC.
Stay tuned for a more in-depth alert coming soon.
