SEC to Hold Meeting on ABS Disclosures
April 5, 2010
The Securities and Exchange Commission (SEC) will holding an open meeting on April 7 to discuss whether to propose revisions to Regulation AB and other rules regarding the offering process, disclosure, and reporting for ABS, the government agency announced on its Web site.
The SEC will also consider proposed revisions to the Securities Act Rule 144A, as well as other rules for privately-placed ABS.
The announcement said that proposed amendments would revise the shelf offering process and eligibility criteria for ABS. It will also require ABS issuers to provide enhanced disclosures such as information on each asset in the underlying pool in a standardized and tagged format.
The announcement further stated that at times, changes in the SEC's priorities require changes in the scheduling of meeting items.
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