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Date
Rule
7A(c)(2)
Staff
Kristin Shaffer
Response/Comments

We agree.

Question

From: Shaffer, Kristin <kshaffer@ftc.gov>
Sent: Wednesday, November 9, 2022 9:32:00 AM (UTC-05:00) Eastern Time (US & Canada)
To: [Redacted]
Cc: HSRHelp <HSRHelp@ftc.gov>
Subject: RE: mortgage backed securities

We agree.

From: [Redacted]
Sent: Monday, November 7, 2022 12:58:39 PM (UTC-05:00) Eastern Time (US & Canada)
To: HSRHelp <HSRHelp@ftc.gov>
Cc: [Redacted]
Subject: mortgage backed securities

Dear Staff:

Are we correct that a stand-alone acquisition of mortgage backed securities (MBS) are exempt from HSR reportability? We assume MBS are exempt per §7a(c)(2), which has been the FTC’s position via informal interpretations (e.g., 1304006). We ask out of an abundance of caution as the Green Book #106 was less clear. Thank you.

About Informal Interpretations

Informal interpretations provide guidance from previous staff interpretations on the applicability of the HSR rules to specific fact situations. You should not rely on them as a substitute for reading the Act and the Rules themselves. These materials do not, and are not intended to, constitute legal advice.

Learn more about Informal Interpretations.

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