SEC Reg. M No-Action Relief

Bank of Montreal No-Action Letter

April 8, 2011

The SEC published a no-action letter granting an exemption to the Bank of Montreal from Rules 101 and 102 of Regulation M so that the firm could continue to engage in certain transactions outside of the United States in Bank of Montreal shares during a proposed acquisition of another firm. The guidance is substantially similar to relief under Reg. M previously granted by the SEC staff.

Cross References

Reg. M, Rules 101, 102

Deutsche Bank AG, SEC No-Action Letter (9/16/2010)