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SEC proposes method of disclosing asset-level data in offerings of asset-backed securities

  • SEC (US Securities and Exchange Commission) Image

Feb 26, 2014

To address constituent concerns related to proposed asset-level disclosures in asset-backed securities (ABS) offerings, the SEC’s Division of Corporation Finance has issued a memorandum describing an approach for asset-level disclosures that takes into account the sensitivity of this information. Instead of filing the information on EDGAR, issuers would make it available to investors on their own Web sites.

In addition, the SEC reopened the comment periods for two related ABS rules for 30 days to gather feedback on the proposed approach. Comments are due on March 28, 2014 (further extended in release 33-9568 to April 28, 2014).

For more information, see the release, memorandum, as well as the statement by Commissioner Michael Piwowar, on the SEC’s Web site.

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