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Securitization Asset-Backed Securities

Alston & Bird

New SEC Rule 192: Prohibition Against Conflicts of Interest in Certain Securitizations

Alston & Bird on

Our Finance Group summarizes the Securities and Exchange Commission’s finalized Rule 192 that prohibits conflicts of interest among participants in asset-backed securitizations. - The Dodd–Frank Act prohibits conflicts...more

Proskauer - Regulatory & Compliance

SEC Adopts New Rule Prohibiting Conflicts of Interest in Certain Securitizations

Following the financial crisis of 2007-2009 and Congressional investigations into the securitization market, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 prohibited securitization participants from...more

Mayer Brown Free Writings + Perspectives

Conflict Resolution: The SEC Adopts Final Rule 192 (Conflicts of Interest in Securitization Transactions)

Highlights- On November 27, 2023, the US Securities Exchange Commission (“SEC”) adopted final Securities Act Rule 192 (“Final Rule 192”) prohibiting certain conflicts of interest in securitization transactions....more

Cadwalader, Wickersham & Taft LLP

SEC Adopts a Rule Prohibiting Conflicts of Interest in Certain Securitizations

On November 27, 2023, the Securities and Exchange Commission (the “Commission”) adopted Rule 192 under the Securities Act of 1933 (the “Securities Act”), a rule that is designed to prohibit “material conflicts of interest” in...more

Mayer Brown

Proposed Rule 192: Conflicts of Interest in Asset-Backed Securitization

Mayer Brown on

The Securities and Exchange Commission (the “Commission”) published proposed Rule 192 (Conflicts of Interest Relating to Certain Securitizations) on January 25, 2023 and closed the public comment period on March 27, 2023....more

Dechert LLP

The CRE CLO Repurposed: Part II

Dechert LLP on

I wrote about the disconnect between our CRE CLO technology and the task at hand (finding acceptable lever in an expanding leverage desert) in my last commentary.  While the CRE CLO remains the best form of match-term,...more

Allen & Overy LLP

Feeling conflicted: SEC Rule 192 and you

Allen & Overy LLP on

On January 25, 2023, the United States Securities and Exchange Commission (the SEC) revived a proposed rule (initially proposed in September 2011) pursuant to Section 27B (Proposed Rule 192) aimed at preventing material...more

Cadwalader, Wickersham & Taft LLP

SEC Re-Proposes a Rule Prohibiting Conflicts of Interest in Certain Securitizations

On January 25, 2023, the Securities and Exchange Commission (“SEC” or “Commission”) issued a release (the “Re-Proposal”) proposing Rule 192 under the Securities Act of 1933, as amended (the “Securities Act”), a rule that is...more

Dechert LLP

Birds Do It, Bees Do It, Even Educated Fleas Do It.  Should The CRE Securitization Industry Advertise?

Dechert LLP on

If the wisdom of crowds has any validity (and there’s no real evidence that it’s any worse than the pontifical huffings of the chattering class), then there’s hope for 2023.  Optimism did itself proud at CREFC.  We’ll see if...more

Morgan Lewis

Everything Old Is New Again: SEC Re-Proposes Securitization Conflicts of Interest Rule

Morgan Lewis on

More than a decade after its initial proposal,1 the US Securities and Exchange Commission (SEC) has re-proposed a new rule 2 under the Securities Act of 1933, as amended (the Securities Act), prohibiting material conflicts...more

Mayer Brown Free Writings + Perspectives

SEC Re-Proposes Conflict of Interest Rule for Asset-Backed Securities

Executive Summary - The Securities and Exchange Commission (the “SEC”) has issued proposed Rule 192 pursuant to Section 27B of the Securities Act of 1933. Section 27B requires the SEC to issue rules for the purpose of...more

Vinson & Elkins LLP

Securitizing Without Conflicts – Proposed SEC Rulemaking

Vinson & Elkins LLP on

On January 25, 2023, the SEC reproposed its 2011 proposed rule to prohibit certain securitization participants from engaging in transactions that present conflicts of interest vis-à-vis ABS investors. This note answers a...more

Cadwalader, Wickersham & Taft LLP

SEC Re-Proposes Dodd-Frank Act Section 621 Conflicts of Interest Rule

The Securities and Exchange Commission (“SEC”) unanimously voted yesterday to re-propose a rule to prohibit conflicts of interest in certain securitization transactions. The SEC previously proposed, but never finalized, this...more

Mayer Brown Free Writings + Perspectives

Dodd-Frank Act Era Conflicts Rule Reproposed

Yesterday, the Securities and Exchange Commission proposed a rule to implement Section 27B of the Securities Act.  This section was added as a result of the addition of Section 621 of the Dodd-Frank Act, which was a late...more

Vinson & Elkins LLP

[Webinar] Navigating Oil & Gas Securitization Transactions - September 14th, 12:00 pm - 1:00 pm CT

Vinson & Elkins LLP on

In this presentation, we will discuss the innovative and practical financing strategies involved in asset-backed financings of oil and gas assets. We will discuss benefits/considerations of these transactions; comparison of...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: European Commission Proposes Changes to the Securitisation Regulation in Response to COVID-19

On 24 July 2020, the European Commission (the “Commission”) published its proposed amendments to the current securitisation framework set out in Regulation (EU) 2017/2402 (the “Securitisation Regulation”)....more

Holland & Knight LLP

IRS Provides Relief for Securitized Mortgage Loan Modifications Anticipated from COVID-19

Holland & Knight LLP on

The Internal Revenue Service (IRS) issued Revenue Procedure 2020-26 on April 13, 2020, providing relief to certain securitization vehicles, including investment trusts and real estate mortgage investment conduits (REMICs),...more

White & Case LLP

New Tax Rates Applicable to Bond and Sukuk Income, Tier II loans and securitizations

White & Case LLP on

Withholding tax rates on income derived from Eurobonds and lease certificates issued outside of Turkey, on interest payments of Tier II loans and securitization financings; as well as BITT applicable to securitizations backed...more

Kramer Levin Naftalis & Frankel LLP

Commercial Property Assessed Clean Energy Assets Increasingly Popular Among Funds

An innovative type of securitized asset is increasingly popular among fund managers, specifically bonds backed by commercial Property Assessed Clean Energy (C-PACE) special tax assessments. ...more

Dechert LLP

More Fun With Risk Retention: Europe and Japan Weigh In

Dechert LLP on

We’re all just back from CREFC and the mood was broadly constructive. (Don’t you love that word, “constructive”? When did “constructive” become a fancy way to say “good”?) We all went to South Beach this year wondering...more

Cadwalader, Wickersham & Taft LLP

Forward Movement in the Bureau of Consumer Financial Protection’s Student Loan Litigation: What This Means for Securitization

In September 2017, the Bureau of Consumer Financial Protection (the “Bureau”) brought an enforcement action against the National Collegiate Student Loan Trusts for alleged violations of consumer financial protection laws in...more

Dechert LLP

The Boundaries of Risk Retention Now That the D.C. Circuit Has Spoken

Dechert LLP on

In February, the D.C. Court of Appeals ruled in The Loan Syndications and Trading Association v. Securities and Exchange Commission and Board of Governors of the Federal Reserve System, No. 17-5004 (D.C. Cir. Feb. 9, 2018)...more

Cadwalader, Wickersham & Taft LLP

The Basel Committee and IOSCO Issue Criteria to Identify “Simple, Transparent and Comparable” Short-Term Securitisations

On 14 May 2018, the Basel Committee on Banking Supervision (the “Basel Committee”) and the Board of the International Organization of Securities Commissions (“IOSCO”) issued criteria for identifying “simple, transparent and...more

Cadwalader, Wickersham & Taft LLP

Court of Appeals Decision: Managers of Open-Market CLOs Not Subject to Dodd-Frank Risk Retention

On February 9, 2018, a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit unanimously ruled in favor of the Loan Syndications and Trading Association (“LSTA”) in its lawsuit against the...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

CFTC Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues - On October 13, 2017, the U.S. Commodity Futures Trading Commission ("CFTC") announced determinations by the CFTC and the...more

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Updated: Dec 28, 2021:

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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