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DC Circ. Exempts CLO Managers From Risk Retention Rules

Law360 (February 9, 2018, 6:25 PM EST) -- The D.C. Circuit on Friday exempted managers of collateralized loan obligations from so-called risk retention rules mandated under the Dodd-Frank Act, saying their duties fall outside the scope of the statute.

Managers of open-market collateralized loan obligations — securitizations backed by major loans used by big companies with heavy debt loads — function more like mutual fund and other asset managers who advise clients than like managers of financial institutions such as banks that originate or acquire assets and then securitize them, according to the ruling...
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Case Information

Case Title

The Loan Syndications Assn v. SEC, et al

Case Number



Appellate - DC Circuit

Nature of Suit

2890 Other Statutory Actions

Date Filed

January 11, 2017

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