The SEC's Division of Economic and Risk Analysis published a report describing trends in primary securities issuance and secondary market liquidity, and assessing how those trends relate to post-crisis regulatory reforms. The report examines the issuance of debt, equity and asset-backed securities, as well as activity and liquidity in U.S. Treasuries, corporate bonds, single-name credit default swaps and bond funds. Specifically, it identifies trends for unregistered offerings, such as those under Regulation D and Regulation Crowdfunding, as well as fixed income transactions, fixed income quotations and broker-dealer financial positions. The report determined that access to capital and market liquidity were not negatively affected by post-financial crisis regulatory reforms.
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