SEC Proposes Extensive Reform to the Rules and Regulations for Public and Private Offerings of Asset-Backed Securities

April 12, 2010
During a significant open meeting, the Securities and Exchange Commission unanimously approved for a 90-day public comment period the release of a proposal to substantially revise Regulation AB and other rules regarding the offering process, disclosure, and reporting for asset-backed securities. In this article, we summarize these proposed rules and offer our thoughts on the implications for and impact on the asset-backed securities market.