SEC Approves Final Rule on Disclosure and Registration of Asset-Backed Securities
- Source:
- Goodwin Procter
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Overview: On December 15, 2004 the Securities and Exchange Commission (SEC) approved new rules that provided a comprehensive securities regulatory framework for publicly issued mortgage-backed and Asset Backed Securities (ABS). The rules primarily addressed four areas of securities regulation: registration requirements under the Securities Act of 1933, as amended (the "1933 Act"); disclosure; communications during the offering process; and ongoing reporting requirements under the Securities Exchange Act of 1934, as amended (the "1934 Act"). They were expected to bring increased transparency and consistency of practice to the ABS markets, replacing the framework of no-action letters and other SEC staff positions that were developed to fit ABS into a regulatory system.
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Format: PDF | Size: 97KB | Date: Feb 2005 | Pages: 7
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