Regulation AB II: Understanding the Offering Process, Disclosure and Periodic Reporting Requirements for Asset-Backed Securities

West LegalEdcenter Webinar

10/21/2014 01:00 p.m. - 02:00 p.m. EDT

Banking + Financial Services, Capital Markets, Investment Management, and Financial Institutions + Financial Services

Kenneth E. Kohler

Kenneth E. Kohler

Webinar

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On August 27, 2014, the Securities and Exchange Commission (SEC) adopted final amendments related to Regulation AB. The changes address the offering process and disclosure and periodic reporting requirements for asset-backed securities. The 2010 proposals were published prior to the adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Dodd-Frank Act addressed some of the elements of the 2010 proposal, resulting in a re-proposal by the Commission in 2011. The Commission published a third release in 2014, requesting comment on the possibility of sponsors disclosing asset-level information on their own websites. The comment period for the third release was extended in March 2014.

This webcast will delve into some of the significant changes adopted by the Commission, including:

  • The “speed bump” provision;
  • Asset review for compliance;
  • Asset-level information for securitizations involving residential mortgage loans, commercial mortgage loans, auto loans and debt securities among other assets;
  • A requirement to report periodically demands by the trustee to repurchase assets for breach of representations and warranties, and any such assets not repurchased;
  • CEO certifications; and
  • New forms for registration of asset-backed securities.

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