Groups Voice Concern Over SEC ABS Rules

Bond and securitization trade groups that represent mortgage-related securities market participants, among others, are voicing concerns about the Securities and Exchange Commission's proposed rules for asset-backed securities.The Bond Market Association said that among its concerns are "the risk that shelf registration statements may no longer be available, far-reaching and inflexible static pool disclosure requirements" and "inappropriate regulations covering repackaging transactions." The association's affiliate, the American Securitization Forum, also has concerns about the proposed rules and has detailed them in a 130-page comment letter to the SEC. The forum can be found online at http://www.americansecuritization.com, and the association can be found at http://www.bondmarkets.com.