In July 2019, the Federal Deposit Insurance Corporation (“FDIC”) proposed changes to its securitization safe harbor rule (the “Rule”), which relates to the treatment of financial assets transferred in connection with a securitization or participation transaction. The proposed changes would eliminate the need for the securitization documents to require compliance with the US Securities and Exchange Commission’s Regulation AB in circumstances where Regulation AB by its terms would not apply to the issuance of obligations backed by such financial assets. During this call, we will:
- Recap the history of the Rule;
- Describe the existing requirements of the Rule and compliance problems;
- Summarize the proposed changes to the Rule; and
- Highlight the benefits of the proposed changes to issuers relying on the Rule.
Please join Mayer Brown partners Haukur Gudmundsson, Jan Stewart and Jeff Taft to hear more about this important issue.
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.