Securitization Update - February 04, 2011

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On January 20, 2011, the Securities and Exchange Commission (the “SEC”) adopted two final rules implementing Sections 943 and 945 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The rules aim to provide additional transparency and disclosure to asset-backed securities (ABS) investors, and enable investors to compare information across ABS issuers and offerings.

In order to implement Section 943 of the Dodd-Frank Act, the SEC adopted a rule entitled “Disclosure for Asset-Backed Securities Required by Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act,” which amends the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to incorporate Rules 15Ga-1 and 17g-7 and Form ABS-15G, and amends Items 1104 and 1121 of Regulation AB under the Securities Act of 1933, as amended (the “Securities Act”) (the “Reps and Warranties Rule”).

Please see full publication below for more information.

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