Skip to content
Subscriber Only

SEC Requires Structured Notes Value Disclosure, Law Firm Says

The U.S. Securities and Exchange Commission is requiring structured note issuers to disclose the estimated initial value of the securities, according to a bulletin from law firm Morrison & Foerster LLP.

The SEC’s division of corporation finance provided the guidance to the banks, the securities law firm wrote in its Jan. 16 Structured Thoughts newsletter. In a letter posted on the SEC’s website last April, the regulator asked issuers to boost disclosures to investors, including estimates of market value and an explanation of how they set up a secondary market for the securities.