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Credit risk retention Final Rule with focus on auto issuers
  • Alston & Bird LLP
  • USA
  • October 30 2014

On October 22, 2014, the Board of Governors of the Federal Reserve System, the Department of Housing and Urban Development, the Federal Deposit


Q&A with Tara Castillo on impact of new SEC disclosure rules on securitization market
  • Alston & Bird LLP
  • USA
  • September 5 2014

On August 27, the Securities and Exchange Commission expanded disclosure requirements for publicly issued asset-backed securities as mandated by the


SEC proposes rules regarding third-party due diligence reports and certifications for asset-backed securities
  • Alston & Bird LLP
  • USA
  • June 1 2011

As part of its continuing efforts to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), on May 18, 2011, the U.S. Securities and Exchange Commission (the “Commission”) unanimously approved for public comment proposed rules that would require nationally recognized statistical rating organizations (NRSROs), issuers and underwriters to make public the findings and conclusions of any due diligence reports prepared by a third-party service provider in an asset-backed securities transaction


Court approves $125 million New Century settlement
  • Alston & Bird LLP
  • USA
  • August 10 2010

Yesterday, a federal judge preliminary approved a $125 million cash settlement for former shareholders of New Century Financial Corp


Federal Reserve issues rulemakings to address certain mortgages practices
  • Alston & Bird LLP
  • USA
  • August 17 2010

Yesterday, the Federal Reserve announced the following final, interim and proposed rulemakings addressing certain lending practices that relate to mortgages, jumbo mortgages and reverse mortgages


SEC adopts new short form criteria to replace “investment grade” eligibility criteria
  • Alston & Bird LLP
  • USA
  • August 4 2011

On July 26, 2011, the U.S. Securities and Exchange Commission (the “Commission”) unanimously approved final rules that remove credit ratings as eligibility criteria for “Short Form” registration statements (e.g., Form S-3 and F-3) and replace such criteria with new eligibility requirements


SEC re-proposes transaction and registrant shelf eligibility requirements for asset-backed securities and requests comment on other outstanding rule proposals
  • Alston & Bird LLP
  • USA
  • August 4 2011

On July 26, 2011, the U.S. Securities and Exchange Commission (the “Commission”) re-proposed for public comment rules that seek to enhance the disclosure, reporting and shelf eligibility requirements for issuers of asset-backed securities (ABS


Ford announces debt restructuring initiatives
  • Alston & Bird LLP
  • USA
  • March 6 2009

On Wednesday, Ford Motor Co. (Ford) and its financing arm, Ford Motor Credit Company (Ford Credit), jointly announced a debt restructuring plan intended to significantly reduce Ford’s debt obligations and related annual interest expenses “through a combination of a conversion offer by Ford and tender offers by Ford Credit.”


GM auditor opinion expresses doubts about "going concern"
  • Alston & Bird LLP
  • USA
  • March 7 2009

On Thursday, General Motors Corporation (GM) filed its Annual Report on Form 10-K with the Securities and Exchange Commission which notably included an opinion of its auditors on its financial statements in which the auditors stated that GM’s "recurring losses from operations, stockholders’ deficit, and inability to generate sufficient cash flow to meet its obligations and sustain its operations raise substantial doubt about its ability to continue as a going concern."


Treasury and Federal Reserve launch Term Assert-Backed Securities Loan Facility
  • Alston & Bird LLP
  • USA
  • March 3 2009

This morning the Department of Treasury and the Federal Reserve announced the launch of the Term Assert-Backed Securities Loan Facility (TALF), including revised Terms and Frequently Asked Questions