RT Journal Article
SR Electronic
T1 Preparing to Comply with the SEC's New Rules Governing Offerings of Asset-Backed Securities
JF The Journal of Structured Finance
FD Institutional Investor Journals
SP 18
OP 23
DO 10.3905/jsf.2004.443351
VO 10
IS 3
A1 Edward E. Gainor
YR 2004
UL https://pm-research.com/content/10/3/18.abstract
AB The SEC has proposed rules governing offerings of asset-backed securities (ABS) that will impose extensive new requirements for disclosure and periodic reporting, including substantial additional information regarding various parties involved in securitization transactions. When final rules are adopted, probably in early 2005, ABS issuers will need to have the necessary information available to them to permit them to comply with the new rules. This article summarizes the proposed rules, with emphasis on provisions that have caused particular concern in the asset-backed securities markets. The article suggests steps that ABS issuers and their counsel should take time now to ensure that they are in a position to comply with the new rules regarding disclosure and reporting about originators, servicers, credit enhancers, and others, so as to avoid finding themselves unable to securitize portfolio assets in a public offering.