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Final Rule: Disclosure for Asset-Backed Securities Required by Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act

Final Rule: Disclosure for Asset-Backed Securities Required by Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act

RIN: 3235-AK75

Agency/Agencies: SEC

Federal Register Publication Date: 01/26/2011

Correcting Amendment: 09/01/2011

Summary: Pursuant to Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC adopted new rules related to representations and warranties in asset-backed securities offerings. The final rules require securitizers of asset-backed securities to disclose fulfilled and unfulfilled repurchase requests. The SEC’s rules also require nationally recognized statistical rating organizations to include information regarding the representations, warranties and enforcement mechanisms available to investors in an asset-backed securities offering in any report accompanying a credit rating issued in connection with such offering, including a preliminary credit rating.

Ianthe Zabel
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