Among the changes to US market regulations proposed by the SEC in November 1998 – a project so large it was dubbed “the aircraft carrier” by sceptical bankers – the plan to repeal a document called the Exxon Capital no-action letter slipped by without attracting much attention. Until now.
Law firm Latham & Watkins fears the move will damage the US high-yield debt market and reduce volume by making it harder for smaller companies to issue.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
