The SEC released the final Securities Act Rule 192 relating to conflicts of interest in asset-backed securities transactions on November 27, 2023. In this OnPoint, we summarize the provisions of the final Rule 192 and...more
12/7/2023
/ Asset-Backed Securities ,
CMBS ,
Conflicts of Interest ,
Fannie Mae ,
FHFA ,
Final Rules ,
Freddie Mac ,
Investors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Sponsors
Corporate CLO issuers, regardless of whether they are organized onshore or offshore, should generally be exempt from Corporate Transparency Act reporting requirements, although onshore CLO co-issuers will likely be subject to...more
11/3/2023
/ Asset-Backed Securities ,
Beneficial Owner ,
CMBS ,
Corporate Transparency Act ,
Financial Market Utilities ,
FinCEN ,
Investment Company Act of 1940 ,
Limited Liability Company (LLC) ,
Ownership Interest ,
Pooled Investment Vehicles ,
Reporting Requirements ,
RMBS ,
Special Purpose Vehicles
On April 9, 2020, the Federal Reserve Board of Governors (the “Fed”) released an updated term sheet (the “Updated Term Sheet”) for the Term Asset-Backed Securities Loan Facility (“TALF”) program. While the Updated Term Sheet...more
In 2013, the Obama administration issued the Cole Memorandum, which called a truce between federal prosecutors and marijuana businesses operating legitimately under state law. After regime change in Washington, however, it...more
9/7/2018
/ Bankruptcy Court ,
CMBS ,
Cole Memorandum ,
Commercial Leases ,
Commercial Loans ,
Controlled Substances Act ,
Department of Justice (DOJ) ,
Dispensaries ,
Federal Reserve ,
Marijuana Related Businesses ,
Mortgage-Backed Securities ,
Mortgages ,
Non-Bank Lenders ,
Nonbank Firms ,
Obama Administration ,
OCC ,
Securitization
Predicting enforcement of the final rule regarding U.S. risk retention is an uncertain task. This OnPoint is designed to provide guidance on possibilities related to consequences of non-compliance, enforcement approaches by...more
Introduction and Summary of CMBS Updates -
After more than three and a half years since the publication by regulators of the first proposals for credit risk retention, we now have a final rule that has brought with it...more