On June 28, 2018, the Securities and Exchange Commission (“SEC“) approved amendments to its definition of “smaller reporting company” to enable more companies to be eligible for reduced disclosure requirements. Release.
Posts by: Editorial Team
Rating Agency Developments
FRB Announces Approval of Final Amendments to its Regulation A
On May 7, 2018, the Federal Reserve Board (“FRB“) published its approval “approval of final amendments to its Regulation A, which governs extensions of credit by Federal Reserve Banks, to make certain technical adjustments including to reflect the expiration of the Term Asset Backed Securities Loan Facility program.” Release.
Rating Agency Developments
On March 8, 2018, Fitch issued a report entitled: Fitch U.S. RMBS Loss Metrics. Release.
On March 8, 2018, Kroll issued a report entitled: Financial Institutions: Securities Firm Rating Methodology. Release.
On March 9, 2018, Fitch issued a report entitled: Fitch Updates U.S. Trust Preferred CDOs Surveillance Rating Criteria. Release.
On March 9, 2018, Moody’s issued a report entitled: Municipal Bonds and Commercial Paper Supported by a Borrower’s Self-Liquidity. Release.
On March 9, 2018, Kroll issued a report entitled: RMBS: Reverse Mortgage Securitization Global Rating Methodology. Release.
On March 13, 2018, Fitch issued a report entitled: Fitch Updates U.S. RMBS Cash Flow Analysis Criteria. Release.
On March 14, 2018, Fitch issued a report entitled: Fitch Updates Single- and Multi-Name Credit-Linked Notes Rating Criteria. Release.
SEC Proposes Transaction Fee Pilot for NMS Stocks
On March 14, 2018, the Securities and Exchange Commission (“SEC“) issued a proposed rule that “subject[s] stock exchange transaction fee pricing … to new temporary pricing restrictions across three test groups, and require the exchanges to prepare and publicly post data.” Once published in the Federal Register, the public comment period will last for 60 days. Release. Proposed Rule.
CFPB Issues Request for Information on Adopted Regulations and New Rulemaking Authorities
On March 14, 2018, the Consumer Financial Protection Bureau (“CFPB“) announced it was seeking public input regarding whether or not there should be amendments to pre-existing rules or new rules relating to the CFPB’s authority under the Dodd-Frank Act. Release.
CFPB Issues Final Rule to Help Mortgage Servicers Communicate With Certain Borrowers Facing Bankruptcy
On March 8, 2018, the Consumer Financial Protection Bureau (“CFPB“) announced a final rule designed to aid mortgage servicers in assisting borrowers dealing with bankruptcy issues while complying with the Truth in Lending Act. Release.
Home Mortgage Disclosure Act: FFIEC’s Revised ‘A Guide to HMDA Reporting: Getting It Right!’
On March 14, 2018, the Office of the Comptroller of the Currency published an updated resource providing guidance for complying with the Home Mortgage Disclosure Act. Release.
SEC Proposes Targeted Changes to Public Liquidity Risk Management Disclosure
On March 14, 2018, the Securities and Exchange Commission (“SEC“) “proposed amendments to public liquidity-related disclosure requirements for certain open-end investment management companies.” The proposed amendments, and other related actions, were designed to give investors improved information while providing the companies sufficient time to comply. Release. Proposed Rule.
Rating Agency Developments
On March 1, 2018, Fitch issued a report entitled: U.S. Auto Loan ABS Rating Criteria. Release.
On March 2, 2018, Fitch issued a report entitled: Covered Bonds Rating Criteria. Release.
On March 2, 2018, Fitch issued a report entitled: U.S. Auto Lease ABS Rating Criteria. Release.
On March 7, 2018, Fitch issued a report entitled: Exposure Draft: U.S. RMBS Loan Loss Model Criteria. Release.
On March 7, 2018, Fitch issued a report entitled: Exposure Draft: U.S. RMBS Seasoned, Re-Performing and Non-Performing Loan Rating Criteria. Release.