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SEC | RIN: 3235-AL04 | Publication ID: Fall 2023 |
Title: Prohibition Against Conflicts of Interest in Certain Securitizations | |
Abstract:
The Division is considering recommending that the Commission adopt a rule under the Securities Act to implement the prohibition under section 621 of the Dodd-Frank Act on material conflicts of interest in connection with certain securitizations. The proposed rules would prohibit, for a specified period, a securitization participant from engaging in any transaction that would result in a material conflict of interest between a securitization participant and an investor in the relevant asset-backed security. As specified in section 621, the proposed rule would provide exceptions for risk-mitigating hedging activities, bona fide market-making activities, and liquidity commitments. |
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Agency: Securities and Exchange Commission(SEC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 17 CFR 230 | |
Legal Authority: 15 U.S.C. 77b 15 U.S.C. 77b note 15 U.S.C. 77c 15 U.S.C. 77d 15 U.S.C. 77f 15 U.S.C. 77g 15 U.S.C. 77h 15 U.S.C. 77j 15 U.S.C. 77r 15 U.S.C. 77s 15 U.S.C. 77z-3 15 U.S.C. 77sss 15 U.S.C. 78c 15 U.S.C. 78d 15 U.S.C. 78j 15 U.S.C. 78l 15 U.S.C. 78m 15 U.S.C. 78n 15 U.S.C. 78o 15 U.S.C. 78o-7 note 15 U.S.C. 78t 15 U.S.C. 78w 15 U.S.C. 78ll(d) 15 U.S.C. 78mm 15 U.S.C. 80a-8 15 U.S.C. 80a-24 15 U.S.C. 80a-28 15 U.S.C. 80a-29 15 U.S.C. 80a-30 15 U.S.C. 80a-37 Pub. L. 112-106, sec. 201(a), sec. 401, 126 Stat. 313(2012), unless otherwise noted ... |
Legal Deadline:
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: Undetermined |
Small Entities Affected: Businesses | Federalism: Undetermined |
Included in the Regulatory Plan: No | |
RIN Information URL: https://www.federalregister.gov/documents/2023/02/14/2023-02003/prohibition-against-conflicts-of-interest-in-certain-securitizations | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Rolaine Bancroft Division of Corporation Finance Securities and Exchange Commission 100 F Street NE, Washington, DC 20549 Phone:202 551-3430 |