SEC: New disclosures approved for asset-backed securities
The SEC has approved new rules intended to increase the transparency of asset-backed securities. One set of rules…
The SEC has approved new rules intended to increase the transparency of asset-backed securities. One set of rules will require issuers of such securities to conduct a review of the assets underlying those securities, which include, for example, residential-mortgage loans and commercial loans. The other set of rules will require issuers to make certain disclosures related to repurchases they have made related to their outstanding asset-backed securities and requests for such repurchases. For more details, read Disclosure for asset-backed securities required by section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
and Issuer review of assets in offerings of asset-backed securities.
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