Covered Securities Pursuant to Section 18 of the Securities Act (Proposal)

SEC Release No. 33-9251, 76 FR 49698

August 8, 2011

The SEC published a proposal to amend Securities Act Rule 146 to designate securities listed on BATS as "covered securities" under Securities Act Section 18. Securities designated as "covered" are exempt from state law registration requirements. Comments on the proposal are due by September 12, 2011.

Please contact any of the following Cadwalader attorneys if you have any questions about this item: Alan Parness - [email protected]; Steven Lofchie [email protected].

Cross ReferencesSecurities Act § 18Securities Act Rule 146BATS Petition for Rulemaking No. 4-632 (May 26, 2011)