SEC Seeks Guidance On Amending ICA Exceptions

Law360, Washington (August 31, 2011, 2:02 PM EDT) -- The U.S. Securities and Exchange Commission voted Wednesday to tap the investment community for comments on whether changes are necessary to the regulatory framework under the Investment Company Act for derivatives, asset-backed securities issuers and mortgage investors.

The concept release on the use of derivatives by companies regulated under the act and the pair of releases on ABS and mortgage investments “offer us an opportunity to rethink our approach,” SEC Chairwoman Mary Schapiro said.

Commissioner Elisse B. Walter agreed that such a rethinking was necessary, saying...
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