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Legal Update

SEC Adopts Final Rules Related to Issuer Due Diligence Review of Assets and Disclosure of Underwriting Exceptions in Public Offerings of Asset-Backed Securities

2 February 2011
Mayer Brown Legal Update
On January 20, 2011, the US Securities and Exchange Commission (the “SEC”) issued final rules requiring the issuer in a registered public offering of asset-backed securities to perform a due diligence review of the assets being securitized in that transaction and to disclose the nature of such review in the prospectus (the “Final Rules”). The rules were required by Section 945 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”).


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  • Elizabeth A. Raymond
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  • Julie A. Gillespie
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  • Angela M. Ulum
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  • Jon D. Van Gorp
    T +1 312 701 7091

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