SEC Votes to Require Disclosures on Asset-Backed Bonds
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The U.S. Securities and Exchange Commission approved rules that will require issuers of asset-backed securities to disclose repurchase requests and completions related to the pooled assets.
The rules, part of the SEC’s rulemaking under the Dodd-Frank financial-regulation overhaul, were approved by commissioners at a meeting in Washington today. Commissioners also approved a second set of rules requiring issuers to review assets underlying the securities as the agency moved to restore investor confidence in the ABS market.