Featured Posts

<< >>

SEC Issues Regulations for NRSROs: Disclosure

This is part 1 of a two-part executive summary on the SEC issuance of amendments, new rules, and new forms affecting nationally recognized statistical rating organizations (“NRSROs”) On August 27,...

This content is for Members, Trial Membership and The Volcker Rule Membership members only.
Log In Register

SEC Issues Regulations for NRSROs: Disclosure (Abstract)

This is part 1 of a two-part executive summary on the SEC issuance of amendments, new rules, and new forms affecting nationally recognized statistical rating organizations (“NRSROs”). On August 27,

IOSCO Launches Public Information Repository for Central Clearing Requirements

On August 5, 2014, the International Organization of Securities Commissions (“IOSCO”) released an information repository for central clearing requirements for OTC derivatives.  The repository sets out central clearing requirements on

SEC Issues Regulations for NRSROs: Disclosure

This is part 1 of a two-part executive summary on the SEC issuance of amendments, new rules, and new forms affecting nationally recognized statistical rating organizations (“NRSROs”) On August 27,…

This content is for Members, Trial Membership and The Volcker Rule Membership members only.
Log In Register

SEC Issues Regulations for NRSROs: Disclosure (Abstract)

This is part 1 of a two-part executive summary on the SEC issuance of amendments, new rules, and new forms affecting nationally recognized statistical rating organizations (“NRSROs”).

On August 27, 2014, the SEC in accordance with the Dodd-Frank Act and to enhance their oversight:  (i) issued amendments to existing rules and new rules that apply to credit rating agencies registered with them as NRSROs; (ii) adopted a new rule and form that apply to providers of third-party due diligence services for asset-backed securities; and (iii) adopted amendments to existing rules and a new rule that implement a requirement added by the Dodd-Frank Act that issuers and underwriters of asset-backed securities make publicly available the findings and conclusions of any third-party due diligence report obtained by the issuer or underwriter.

The amendments significantly enhance the existing requirements for NRSROs to produce and disclose performance statistics to make the disclosures more comparable across NRSROs and easier for users of credit ratings and others to understand.

Get Full Article Here

IOSCO Launches Public Information Repository for Central Clearing Requirements

On August 5, 2014, the International Organization of Securities Commissions (“IOSCO”) released an information repository for central clearing requirements for OTC derivatives.  The repository sets out central clearing requirements on a product-by-product level, and any exemptions.  The information in the repository will be updated quarterly.

The repository was only available to IOSCO members, until they gained sufficient experience and gathered enough information on central clearing requirements to open the repository to the public.  The IOSCO stated that the information in the repository is for reference only.  Interested parties should refer to the original version of the relevant laws and regulations.

The repository provides regulators and market participants with consolidated information on the clearing requirements of different jurisdictions.  This information is intended to assist authorities in their rule making and help participants comply with the relevant regulations in the OTC derivatives market.

The first quarter repository is available at the following link: IOSCO Repository as of June 30, 2014

Get .PDF of Article Here