Updated framework covers ETFs, recently listed equities and rules-based indices

The US Securities and Exchange Commission (SEC) has updated its approach to disclosure for equity-linked structured notes, extending a framework that had remained largely unchanged since the 1996 Morgan Stanley no-action letter. Guidance always provides an opportunity for market participants to move forward with greater confidence - Anna Pinedo, Mayer Brown The SEC’s Division of Corporation Finance said the new relief updates and expands the views expressed in Morgan Stanley, allowing