On October 4, the SEC issued a proposed rule related to representations and warranties for ABS offerings as required by the Dodd-Frank Act. The proposed rule would require that: (i) "securitizers" disclose fulfilled and unfulfilled repurchase requests across all transactions and (ii) NRSROs include information regarding representations, warranties, and enforcement mechanisms in any report accompanying a credit rating (including a preliminary credit rating) issued in connection with an offering. SEC Release. SEC Proposed Rule.