SEC registration exemption for wall-crossing unlikely

Author: | Published: 16 Nov 2011

Market volatility has increased wall-crossing practices among well-known seasoned issuers (WKSIs) seeking to build a solid base of investors prior to offering equities to the public. But US lawyers do not expect SEC plans to enable underwriters to offer wall-crossed securities prior to registration to come into effect.

Morrison & Foerster’s David Lynn told IFLR he did not think the planned Rule 163 revision would go anywhere.