SEC Mulls Revising Asset-Backed Security Rules

Law360, New York (April 1, 2010, 3:40 PM EDT) -- The U.S. Securities and Exchange Commission is considering whether to change its rules on asset-backed securities, especially relating to disclosure requirements.

The agency will hold an open meeting April 7 to discuss whether to propose revisions to Regulation AB and other rules regarding the offering process, disclosure and reporting for asset-backed securities, the commission said Wednesday.

The proposed amendments would revise the shelf offering process and eligibility criteria for asset-backed securities and require asset-backed issuers to provide enhanced disclosures — including information regarding each asset in...
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