SEC's Schapiro sparks hope for Reg AB rethink

Author: Danielle Myles | Published: 14 Jul 2011

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 eligibility criteria.

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 securitised assets.

Delivering the 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...