EU Vs. US — Reforming The Securitization Market

Law360, New York (July 17, 2009, 11:51 AM EDT) -- On June 17, 2009, President Barack Obama proposed a plan to overhaul regulation of the United States financial services industry (the “Obama Plan”).

Included in the plan are proposals to reform the securitization market, but there are many political and legal hurdles that stand in the way of those proposals becoming law.

In contrast, reforms in the European Union are further down the legislative track. The EU approach was adopted by the European Parliament on May 6, 2009, via Article 122a of the Capital Requirements Directive...
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