The Forum for US Securities London in London is collaborating with Practical Law to create video content on legal updates, best practice, and hot topics.  

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This video discusses Rule 10b-5 disclosure letters and why they are delivered in capital markets transactions, especially ones which include a US offering.

This video addresses the following questions:

– What is a 10b-5 disclosure letter?

– Where does the name come from?

– What do the letters do?

– Who are the beneficiaries?

– When are the letters considered necessary for a deal?

– How does the due diligence defence work?

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