SEC Issues No-Action Letter Regarding Risk Retention Requirements under SEA Section 15G
The SEC issued a no-action relief letter waiving the mandatory retention of a risk interest, as ordinarily required under Section 15G ("Credit Risk Retention") of the Securities and Exchange Act. The no-action relief was issued in connection with a refinancing of collateralized loan obligation where the transaction had been originally priced prior to the December 2014 publication of the credit risk retention rules.