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MFDF - Mutual Fund Directors Forum - April 7 SEC Open Meeting on Asset Backed Securities Regulation

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April 7 SEC Open Meeting on Asset Backed Securities Regulation

The SEC has announced that at their April 7, 2010 meeting the Commission will consider whether to amend Regulation AB governing disclosure and reporting and the offering process for asset backed securities:

The Commission will consider whether to propose revisions to Regulation AB and other rules regarding the offering process, disclosure and reporting for asset-backed securities. The proposed amendments would revise the shelf offering process and eligibility criteria for asset-backed securities and require asset-backed issuers to provide enhanced disclosures including information regarding each asset in the underlying pool in a standardized, tagged format. The Commission will also consider proposed revisions to Securities Act Rule 144A and other rules for privately-placed asset-backed securities.

The April 7 meeting is open to the public on a first come first served basis, and will be webcast via a link on the SEC's website, www.sec.gov. The full text of the Commission's announcement is available at: http://www.sec.gov/news/openmeetings/2010/ssamtg040710.htm