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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
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- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Facts Behind SEC Probe Into ABS Issuers and Mortgage-Related Pools
September 2, 2011
At Wednesday's Open Meeting, the SEC voted unanimously to request public comment on the treatment of asset-backed issuers, as well as REITs and other mortgage-related pools under the Investment Company Act.
Specifically, the SEC seeks public input on possible amendments the Agency might consider proposing to Rule 3a-7, which excludes certain issuers of ABS's from having to comply with the requirements of the ICA of '40. An advance notice of proposed rulemaking provided the public with an opportunity to weigh in even before the SEC develops a formal rule proposal.
The SEC would like comment on interpretations of a provision in the ICA of '40 - specifically Section 3(c)(5)(C) - that may be used by some companies engaged in the business of acquiring mortgages and mortgage-related instruments such as some REITs. A concept release is a Commission-approved document that poses an idea or ideas to the public to get their views.
Public comments are requested by 10/31/11. [For further details, go to: [SEC PR 11-176, "SEC Seeks Comments ..", 8/31/11]
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