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07 May 2012ISS-MAG Discusses SEC’s Call for More Fair Value Disclosures in an Interview with Brian Bouchard
A recent article by ISS-MAG.com states that banks that issue structured notes may soon have some extra work to do when preparing their sales prospectuses. The Securities and Exchange Commission would like for banks to disclose the difference between the offering price for the structured notes and their actual fair value—a value which reflects the actual price investors would expect to receive if the structured notes were sold in the secondary market right after they were bought. Brian Bouchard, Vice President in Houlihan Lokey’s Financial Advisory Services business, comments: "The difference between the fair value and offering price could be substantial due to the highly illiquid and complex nature of these investments."
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