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SEC issues final rule on asset-backed securities

  • SEC (US Securities and Exchange Commission) Image

Sep 04, 2014

The SEC has issued Final Rule Release No. 33-9638, “Asset-Backed Securities Disclosure and Registration,” which is intended to enhance the disclosure requirements for asset-backed securities.

Specifically, the final rule requires “loan-level disclosure for certain assets, such as residential and commercial mortgages and automobile loans” and gives investors more time “to review and consider a securitization offering, revise[s] the eligibility criteria for using an expedited offering process known as ‘shelf offerings,’ and make[s] important revisions to reporting requirements.”

The final rule will become effective on November 24, 2014.

For more information, see our related Deloitte Accounting Journal entry and the press release and final rule on the SEC’s Web site.

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