SEC Releases Proposal Related to Futures Contracts on European Union Debt Obligations

The SEC has released a proposed rule that would amend the Securities Exchange Act of 1934 to treat debt obligations of the European Union (EU) as “exempted securities” under Exchange Act Rule 3a12-8. Accordingly, under the proposal, futures trading or marketing of these securities would now be permitted in the United States or to U.S. persons. The proposal would align the treatment of EU debt obligations with “the regulatory treatment already afforded to futures on the debt obligations of several EU member states currently listed under Rule 3a12-8.”

For more information, see the press release and fact sheet on the SEC’s Web site.