Final Rule
Issuer Review of Assets in Offerings of Asset-Backed Securities
Overview
We are adopting new requirements in order to implement Section 945 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Act'). We are adopting a new rule under the Securities Act of 1933 to require any issuer registering the offer and sale of an asset-backed security ("ABS') to perform a review of the assets underlying the ABS. We also are adopting amendments to Item 1111 of Regulation AB that would require an ABS issuer to disclose the nature of its review of the assets and the findings and conclusions of the issuer's review of the assets.
Prior Actions
Proposed Rule (33-9150)
Release Number
33-9150
34-63091
SEC Issue Date
Oct. 13, 2010
Federal Register Publish Date
Oct. 19, 2010
Document Citation
75 FR 64182
RIN
3235-AK76
Resources
Details
File Number
S7-26-10
Rule Type
Final
Release Number
33-9176
34-63742
SEC Issue Date
Jan. 20, 2011
Effective Date
March 28, 2011
Federal Register Publish Date
Jan. 25, 2011
Document Citation
76 FR 4231
RIN
3235-AK76