SIFMA Statement On The SEC’s Exemptive Relief Order Related To Rule 15c2-11

SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on the SEC’s order granting broker-dealers exemptive relief from Rule 15c2-11 for fixed-income securities:

“We believe the exemptive order issued today by the SEC is the right outcome on Rule 15c2-11, and we applaud the Commission for taking this action.  SIFMA and others warned of the potential harm that applying the public disclosure requirements of the Rule to the 144A market would have caused to U.S. companies and investors.  The 144A market is currently relied upon by thousands of corporate and asset-backed securities issuers to raise capital and fund consumer lending, and the exemptive order preserves the ability of issuers to access this important market.”