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ARTICLE · 27 JANUARY 2005

SEC Adopts Final Rules for Asset-Backed Securities

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On December 15, 2004, the Securities and Exchange Commission adopted a massive set of rules for asset-backed securities ("ABS") under the Securities Act of 1933 and the Securities Exchange Act of 1934 ("Regulation AB").

United StatesEmployment and HR
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Originally published January 25, 2005

On December 15, 2004, the Securities and Exchange Commission adopted a massive set of rules for asset-backed securities ("ABS") under the Securities Act of 1933 and the Securities Exchange Act of 1934 ("Regulation AB"). The final rules reflect numerous changes that have been incorporated to address issues raised in comment letters received by the SEC in response to the initial proposal released on May 3, 2004 (the "Proposal").

The newly adopted rules will regulate ABS in four areas: (1) Securities Act registration, (2) disclosure under new Regulation AB, (3) communications during the offering process and (4) ongoing reporting requirements under the Exchange Act.

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