On January 20th, the SEC published new final rules requiring any issuer registering the offer and sale of an asset-backed security ("ABS") to perform a review of the assets underlying the ABS. The SEC also adopted amendments to Item 1111 of Regulation AB, requiring an ABS issuer to disclose the nature of its review of the assets and the findings and conclusions of the issuer's review of the assets. The new rules will be effective 60 days after publication in the Federal Register, which is expected during the week of January 24.SEC Release No. 33-9176; SEC Press Release. See also Casey Remarks (dissenting); Paredes Remarks (dissenting).