SEC Re-Proposes Conflict of Interest Rule for ABS

On 25 January, the US Securities and Exchange Commission issued the proposed Securities Act rule 192, prohibiting certain conflicts of interest in securitisation transactions. Rule 192 is intended to implement the prohibition against such conflicts as set forth under section 27B of the Securities Act 1933. These new regulations will likely have an impact on Australian securitisation transactions with US investors. Partners Amanda Baker, Paul Jorissen, Stuart Litwin and Jon Van Gorp discuss the key points in the report.