On August 27, 2014, the Securities and Exchange Commission
unanimously voted to adopt a package of new and amended rules
governing the registration, offering process, disclosure and
reporting for SEC registered asset-backed securities. The
release adopting the final rules was dated and posted on September
4, 2014. The final rules are part of the SEC's rule-making
effort commonly referred to as "Regulation AB
II."
The final rules will become effective 60 days after their
publication in the Federal Register. Market participants will
be required to comply with the new rules and forms (except for the
asset-level disclosure requirements) no later than one year after
effectiveness and with the new asset-level disclosure requirements
no later than two years after effectiveness.
Click here for a summary of the final rules.