• SEC Clarifies Status of Certain Derivatives Transactions
  • March 4, 2004 | Author: Samuel Wolff
  • Law Firm: Akin Gump Strauss Hauer & Feld LLP - Washington Office
  • In a recent, significant interpretative letter, the SEC staff facilitated certain derivatives transactions by clarifying the status of such transactions under the registration provisions of the Securities Act of 1933, as amended (Securities Act). Goldman Sachs & Co. (Oct. 9, 2003). The types of transactions at issue are forward contracts, options, or a combination of forwards and options (Contracts), entered into between an issuer (Issuer) and an investment banking firm or other counterparty (Counterparty), and related hedging transactions. The principal elements of the derivatives transactions are as follows: