SEC OKs Disclosure Rules For Asset-Backed Securities

Law360, New York (January 20, 2011, 4:10 PM EST) -- The U.S. Securities and Exchange Commission adopted new rules Thursday tightening regulations on the asset-backed securities market, in the latest move to implement the financial reform law passed last summer.

In one 3-2 vote and one unanimous vote, SEC commissioners approved two sets of rules created under the Dodd-Frank Wall Street Reform and Consumer Protection Act to reduce risks surrounding asset-backed securities sales.

The new rules aim to improve transparency and activity in the market by increasing disclosure requirements for issuers of asset-backed securities, which are...
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