On August 27, 2014, the Securities and Exchange
Commission unanimously voted to adopt a package of new and amended
rules governing the registration, offering process, disclosure and
reporting for SEC registered asset-backed securities. The
release adopting the final rules was dated and posted on September
4, 2014. The final rules are part of the SEC's rule-making effort
commonly referred to as "Regulation AB II."
The
final rules will become effective 60 days after their publication in
the Federal Register. Market participants will be required to
comply with the new rules and forms (except for the asset-level
disclosure requirements) no later than one year after effectiveness
and with the new asset-level disclosure requirements no later than
two years after effectiveness. Click
here for a summary of the final rules.
|