Asset Backed Security (ABS) issuers will be exempt
from burdensome periodical reporting requirements when the
securities are held only by affiliates, under a
Dodd-Frank-mandated rule to take effect on September
But the new exemption is expected to benefit less ABS
issuers than the test prior to Dodd-Frank.
On August 17 the Securities and Exchange Commission (SEC)
issued the final rule, which amends Exchange Act section 15(d).
ABS issuers have been required to file periodic and annual
reports since passage of Dodd-Frank, which eliminated...