*Letters

Definition and Treatment of Hybrid Securities

Published on:
August 30, 2006

The Bond Market Association (TBMA)* provides additional comments to the New York Department of Insurance on the definition and treatment of hybrid securities, 8/18 New 2006 Hybrid Scenarios.  In this second letter to the Department, TBMA shares its concerns that the potential risks to investors have not been sufficiently evaluated and quantified in advance of implementation of a long-term policy.

*SIFMA is a product of the merger between the Securities Industry Association (SIA) and the Bond Market Association (TBMA) in 2006.

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