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ARTICLE · 04 NOVEMBER 2020

SEC Issues Joint Statement Relating To Complex Financial Products

Morrison Foerster
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On October 28, 2020, the U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton, together with the directors of three SEC divisions, issued a joint statement relating to complex financial products.

United StatesCorporate/Commercial Law
Hillel Cohn
Hillel Cohn
Susan I. Gault-Brown
Susan I. Gault-Brown
Lloyd Harmetz
Lloyd Harmetz
Kelley Howes
Kelley Howes
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On October 28, 2020, the U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton, together with the directors of three SEC divisions, issued a joint statement relating to complex financial products. The statement relates to a fairly broad group of products, but addresses in particular a number of sophisticated leveraged and inverse structured products, including ETFs and exchang- traded notes (ETNs).

The joint statement is relatively brief, but addresses several potentially complex issues, which are discussed in our  newsletter.

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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