Rule 10b-13 Basket Trading
Published on:
June 19, 1997
The Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) requesting an exemption regarding Rule 10b-13 under the Securities Exchange Act of 1934 (Exchange Act) for transactions in baskets of securities during a tender or exchange offer when the operation of Rule 10b-13 would otherwise prohibit a broker-dealer acting as a dealer manager in the tender or or exchange offer from purchasing or arranging the purchase of one or more of the securities that comprise the basket.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.