SEC Approves New Rules Regulating Asset-Backed Securities

Securities Exchange Commission

The SEC today voted to adopt two sets of new rules encouraging better disclosure for investors in ABS. One set of rules requires issuers to disclose the history of the requests they received and repurchases they made related to their outstanding ABS and a second set of rules that would require issuers of ABS to conduct a review of underlying assets.

Document Number

Files No. S7-24-10 and S7-26-10

Date

January 20, 2011

Cross References (links may require a Cabinet subscription)

Section 945 of the Dodd-Frank Act

Item 1111 of Regulation AB

Items 1104 and 11212 of Regulation AB3 (a subpart of Regulation S-K)

Rules 101 and 3145 of Regulation S-T