What is Regulation AB II?
Regulation AB II represents the response of the US SEC to a public perception that inadequate regulation of asset-backed securities (ABS) was a significant driver of the credit crisis.
What is a Reg AB report used for?
provides disclosure guidance and requirements for filings involving ABS under the Securities Act and Exchange Act; establishes a consistent servicing standard, used as the basis for measuring; requires an accountant’s report for each servicer assertion.
Which regulation addresses the registration disclosure and reporting requirements for asset-backed securities?
The SEC has amended Item 1122 of Regulation AB to require that the annual report disclose whether identified instances of noncompliance involved the servicing of the related pool assets.
What is an SK report?
Regulation S-K is a Securities and Exchange Commission (SEC) regulation that outlines how registrants should disclose material qualitative descriptors of their business on registration statements, periodic reports, and any other filings.
What is Reg AB compliance?
The amendments to Regulation AB, among other things, require asset-level disclosure for offerings of asset-backed securities backed by residential mortgages, commercial mortgages, auto loans, auto leases and debt securitizations (including resecuritizations).
What is a Reg AB audit?
Regulation AB is a comprehensive set of new rules and amendments that address the registration, disclosure and reporting requirements for asset-backed securities (ABS) under the Securities Act of 1933 and the Securities Exchange Act of 1934.
Is asset-backed securities a derivative?
Asset-backed securities (ABS) are debt instruments collateralized by various loans and obligations. These are types of derivative instruments. These obligations usually include student loans, credit card receivables, auto loans, home equity loans, etc.
What is covered by Regulation S-X?
Regulation S-X is a U.S. Securities and Exchange Commission rule that covers annual reports and financial statements from companies.
What is ABS financing?
An asset-backed security (ABS) is a type of financial investment that is collateralized by an underlying pool of assets—usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, or receivables.