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Statement On Prohibiting Conflicts Of Interest In Securitizations, SEC Chair Gary Gensler, Jan. 25, 2023

<p><span>Today, the Commission is considering whether to re-propose rules to prohibit a range of market participants that sell or sponsor asset-backed securities (ABS) from taking positions against those very products. I am pleased to support this re-proposed rule as it fulfills Congress’s mandate to address conflicts of interests in the securitization market, which contributed to the 2008 financial crisis.</span></p>
Meridith Mitchell Mick Riley Lucretia Zinnen Igor Kozhanov Rolaine Bancroft Steven Hearne

Statement On The Prohibition Against Conflicts Of Interest In Certain Securitizations Re-Proposal, SEC Commissioner Caroline A. Crenshaw Jan. 25, 2023

<p><span>The Commission is proposing to implement Section 621 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.</span><span> Even though it has been said frequently, I’d like to commend the work of so many tireless advocates, public servants, and elected officials in shepherding through a statute to protect American investors and their families, and to reduce the likelihood of a recurrence of the events that led up to the Global Financia...
United States Rolaine Bancroft Ben Meeks Office Of Municipal Securities Division Of Corporation Division Of Economic

Statement On Proposed Rule: "Prohibition Against Conflicts Of Interest In Certain Securitizations", SEC Commissioner Hester M. Peirce, Jan. 25, 2023

<p><span>Thank you, Chair Gensler. I support putting out a new proposal as a step toward compliance with a more-than-decade-old mandate from Congress,</span><span> but I have numerous questions about its content. The proposal should narrowly implement this mandate given the admitted lack of problems in the market. The release acknowledges that “[c]urrent market practices may be generally consistent with the re-proposed rule requirements as a result of m...
United States Erik Gerding Deanna Virginio Rolaine Bancroft Renee Jones Ben Meeks

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