US securitisation counsel are
hopeful the Securities and Exchange Commission (SEC) will
withdraw its proposed requirement for third party reviews of
repurchase obligations under Reg AB II’s shelf
This follows comments made by
SEC Chairman Mary Schapiro at the American Securitization
Forum’s (ASF) annual meeting on June 23, on how to
address representation and warranty violations relating to
meeting’s keynote address, Schapiro said the SEC
may reevaluate the Reg AB changes proposed in April 2010 in
light of Dodd-Frank changes.
"We expect we may propose...