SEC Grants "Ineligible Issuer" Waiver to Firm

The SEC Division of Corporation Finance waived the disqualification of a firm as a "well-known seasoned issuer" by agreeing not to consider it an "ineligible issuer," as defined in Securities Act Rule 405. The waiver was required by the settlement of a recent SEC enforcement action related to misleading clients about how the firm priced foreign currency exchange transactions.

The waiver is contingent on the firm's continued compliance with the terms of an SEC Order.