SEC ANPR on Rule 3a-7 and Concept Release on 3(c)(5)(C)

On August 31, the SEC issued an advance notice of proposed rulemaking on possible amendments to Rule 3a-7 of the Investment Company Act relating to the treatment of ABS issuers. The SEC also issued a concept release seeking comment on interpretations of Section 3(c)(5)(C) of the Investment Company Act that is used by some companies (such as REITs) in connection with the acquisition of mortgages and mortgage-related instruments. Comments on both the ANPR and the concept release must be submitted within 60 days after publication in the Federal Register. SEC Release. 3a-7 ANPR. 3(c)(5)(C) Concept Release.

FHFA Rules and ANPR for GSEs

On December 22, the FHFA issued three final rules and one Advance Notice of Proposed Rulemaking for Fannie Mae, Freddie Mac and the Federal Home Loan Banks. The final rules pertain to Fannie Mae and Freddie Mac portfolio holdings, minority and women inclusion, and Federal Home Loan Bank housing goals. The ANPR pertains to membership in Federal Home Loan Banks. FHFA Release.