The US Securities and Exchange Commission’s (SEC’s) recently issued final rule, Prohibition Against Conflicts of Interest in Certain Securitizations, resulted from the Dodd-Frank Act and Congress’s efforts to curb problematic transactions. Compliance will be required 18 months after publication in the Federal Register.
Partner Charles Sweet spoke with Asset Securitization Report, noting that the original re-proposal was extremely broad and would have had a severe impact across the securitization market. “The SEC didn't take every suggestion from everybody into account, but it came up with something vastly more workable than the original rule," Charlie said.
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