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
  • derivatives

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.