Don’t Drive ‘Train’ Through Risk Retention, DC Circ. Told

Law360, Washington (October 10, 2017, 7:26 PM EDT) -- The U.S. Securities and Exchange Commission and the board of governors of the Federal Reserve System on Tuesday urged a D.C. Circuit panel in oral arguments not to drive a “freight train” through requirements that investment firms retain an interest in debt securities they issue.

The Loan Syndications and Trading Association is challenging the Dodd-Frank Wall Street Reform and Consumer Protection Act’s so-called risk retention rule and its application to managers of open market collateralized loan obligations. The group argues that managers of collateralized loan obligations, or CLOs — securitizations backed by major loans used by big companies with heavy debt...

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Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only


Appellate - DC Circuit

Nature of Suit

2890 Other Statutory Actions

Date Filed

January 11, 2017

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