SEC Offers New Rules On Asset-Backed Securities

Law360, New York (October 6, 2010, 5:22 PM EDT) -- In the latest regulatory action stemming from the financial reform bill passed in July, the U.S. Securities and Exchange Commission announced Wednesday that it was seeking public comment on new rules requiring issuers of asset-backed securities to make more transparent disclosures to investors.

The SEC said it was required to develop the new rules by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The public has until Nov. 15 to comment on the new rules, it said.

The proposed rules target representations and warranties made...
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