Securities and Exchange Commission January 26, 2011 – Federal Register Recent Federal Regulation Documents

Disclosure for Asset-Backed Securities Required by Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
Document Number: 2011-1504
Type: Rule
Date: 2011-01-26
Agency: Securities and Exchange Commission, Agencies and Commissions
Pursuant to Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act,\1\ we are adopting 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. Our 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.