SEC grants ABS issuers another year

The SEC has given international ABS issuers another year’s grace, rolling over a temporary exemption set to expire on December 2. Rule 17(g)5 meant that ABS issuers outside the US, selling bonds to investors outside the US, would be subject to SEC disclosure rules. At the same time, the European Parliament wants to force issuers across all asset classes to publicise the information agencies use to rate them — which could stifle the kind of disclosure it is supposed to encourage. EuroWeek on Friday cuts through the red tape.