SEC proposal would require greater ABS disclosure

10/7/2010 | Wall Street Journal, The

The Securities and Exchange Commission proposed requiring more disclosure on asset-backed securities by issuers and raters. "The Dodd-Frank Act imposes new disclosure obligations so that investors receive information about the representations and warranties and repurchase history so they may identify originators with clear underwriting deficiencies," the SEC said in a statement. The agency will accept comments regarding the proposal until Nov. 15. SEC Chairman Mary Schapiro will be a featured speaker at SIFMA's 2010 Annual Meeting.

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