The SEC set an effective date of February 5, 2024 effective date for its final rule prohibiting an asset-backed "securitization participant" from engaging in any transaction that could involve or result in a material conflict of interest.
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The SEC adopted a final rule to prohibit an asset-backed "securitization participant" from engaging in any transaction that could involve or result in a material conflict of interest.
The Managed Funds Association said an SEC proposal to prohibit a "securitization participant" from engaging in any transaction that would involve or result in a material conflict of interest, "could harm the securitization markets and, as a consequence, undermine the credit markets that depend upon securitization."
SIFMA, SIFMA Asset Management Group and the Bank Policy Institute urged the SEC not to adopt a proposed rule which would prohibit an asset-backed security "securitization participant" from engaging in any transaction that would involve or result in a material conflict of interest.
Comments on an SEC proposal prohibiting an asset-backed security "securitization participant" from engaging in any transaction that would involve or result in material conflicts of interest are due by March 27, 2023.