On January 20, 2011, the US Securities and Exchange Commission issued final rules imposing extensive and potentially onerous reporting and disclosure requirements on issuers with respect to past and future repurchase or replacement activity arising from breaches of representations and warranties made in securitization transactions. The Final Rules impact nearly every type of asset-backed securitization transaction, including both registered public offerings under the Securities Act of 1933 and private offerings, regardless of whether these private offerings are conducted in reliance on Rule 144A or another “safe harbor” from the registration requirements of the Securities Act.

Please join Mayer Brown partners Christopher Horn and Elizabeth Raymond as they discuss the final rules and some of the many interpretive issues that may arise in applying the rules.

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Of Related Interest

SEC Adopts Final Rules Related to Representation and Warranties in Asset-Backed Securities Offerings
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Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.