No-Action Letter on Bail-In Securities; Further Rulemaking to Follow

On April 10, 2026,the staff (the “Staff”) of the Division of Corporation Finance (the “Division”) of the Securities and Exchange Commission (the “SEC”) issued a no-action letter (the “No-Action Letter”) in response to an incoming letter submitted on behalf of the Bank of England (the “Incoming Letter”), which addresses the application of certain provisions of the U.S. Securities Act of 1933 (as amended, the “Securities Act”) to the exchange of securities in a UK bail-in scenario.... By: Mayer Brown Free Writings + Perspectives