On August 27, 2014, following years of preparation, speculation and comment, the Securities and Exchange Commission (SEC) adopted Regulation AB II (Reg AB II). Reg AB II represents a response to requirements of Sections 939A and 942(b) of the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). It effects significant revisions to Regulation AB with respect to disclosure, reporting and shelf registration of mortgage- and asset-backed securities (ABS). Reg AB II is intended to provide investors with timely and sufficient information, reduce the likelihood of undue reliance on credit ratings and enhance enforcement of asset-level representations and warranties.
Regulation AB II: Second Time’s the Charm?
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