Final Rule: Suspension of the Duty To File Reports for Classes of Asset-Backed Securities Under Section 15(D) of the Securities Exchange Act of 1934
Federal Register Publication Date: 08/23/2011
Summary: Section 942(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act eliminated the automatic suspension of the duty to file under Section 15(d) of the Securities Exchange Act of 1934 for asset-backed securities issuers and granted the SEC the authority to issue rules providing for the suspension or termination of such duty. The SEC adopted rules to provide certain thresholds for suspension of the reporting obligations for asset-backed securities issuers. The SEC also amended its rules relating to the Exchange Act reporting obligations of asset-backed securities issuers in light of these statutory changes.