SEC Revamps ABS Shelf Eligibility Rules

Law360, New York (August 5, 2011, 7:54 PM EDT) -- The U.S. Securities and Exchange Commission reproposed rules Friday related to shelf eligibility for asset-backed securities with changes based on the Dodd-Frank Wall Street Reform and Consumer Protection Act and comments from the public.

The rules as originally proposed addressed a number of concerns about the ABS offering process and disclosures, the SEC said. When Dodd-Frank was enacted in July 2010, it addressed some of those concerns but not others, such as risk retention and continued Exchange Act reporting.

The newly proposed rules seek to incorporate...
To view the full article, register now.