This, for example, is what they say about floorless convertibles
Janice, I have to disagree with you there. The quote you provided is not what the SEC says about floorless convertibles. Instead, it is what how the SEC is describing ALL types of convertible instruments, which is understandable, as fixed price convertibles are often issued by blue-chips and other real companies.
It is in the next paragraph where the SEC begins to specifically describe floorless convertibles, and their characterization is less than flattering, which is why they are trying to get rid of them.
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