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24 August 2017

SEC Releases Report On Access To Capital, Market Liquidity

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Herbert Smith Freehills Kramer LLP

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The SEC Division of Economic and Risk Analysis (DERA) today published a report describing trends in primary securities issuance and secondary market liquidity, and assessing how...
United States Corporate/Commercial Law

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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