IOSCO has published a consultation paper on disclosure principles for offerings of asset-backed securities (ABS). The principles will apply to listings and public offerings of ABS and outline the information offer documents should include. It includes:
- static pool information;
- pool assets;
- significant obligors of pool assets;
- description of ABS;
- structure of the transaction;
- credit enhancement and other support; and
as well as disclosures common to other forms of investment. IOSCO intends regulators to use the Principles as a starting point and wants comments by 10 August.