The Securities and Exchange Commission (“SEC”) has issued proposed Rule 192 pursuant to Section 27B of the Securities Act of 1933. Section 27B requires the SEC to issue rules for the purpose of implementing that section’s prohibition against a securitization participant’s entering into a transaction that would involve or result in a material conflict of
Structured Finance
Commercial Paper Legal and Regulatory Developments
By Hanson Hairihan on
January 24, 2023 Webinar
1:00 pm – 2:00 pm ET
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During the session hosted by the Practising Law Institute, Mayer Brown Partner, Jerry Marlatt, and Robert Crowe, Head of Money Markets Origination at Citigroup Global Markets, will discuss the various trends contributing to increased interest in commercial paper financing, as well as…
Understanding Structured Debt and Private Convertibles
By Hanson Hairihan on
Posted in Convertible Bonds, Events, IPOs, Public Companies, Structured Finance, Structured Products
January 20, 2023 Webinar
12:00 pm – 1:00 pm ET
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2022 was a year marked by the market’s increasing preference for structured financing alternatives. During this session, panelists Syed Raj Imteaz and Anna Shearer of ICR Capital joined by Mayer Brown’s Anna Pinedo will discuss market trends within the structured debt and…
SEC Staff Grants Temporary Relief from Compliance with Rule 15c2-11 for Rule 144A Fixed Income Securities
By Daniel Scher & Alexandrea Doroba on
With the January 3, 2023, deadline fast approaching for compliance with Exchange Act Rule 15c2-11, as amended and reinterpreted by the staff of the US Securities and Exchange Commission (“SEC”) to apply to fixed income securities (the “Rule”), the SEC staff granted some temporary relief in a new no-action letter on November 30. Participants in…
Everything Old is New Again: Commercial Paper Market and Regulatory Developments
By Hanson Hairihan on
December 7, 2022 Webinar
1:00 pm – 2:00 pm EST
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Over the years, there have been significant fluctuations in the asset-backed commercial paper market, however, the market has also demonstrated its resiliency and adaptability. Collateralized commercial paper and commercial paper conduit programs have recently become increasingly significant. Asset-backed commercial paper levels for…
SEC Proposes to Remove Credit Ratings References from Regulation M
By Ryan Castillo, Anna T. Pinedo & Marissa Dressor on
On March 23, 2022, the US Securities and Exchange Commission (the “SEC”) proposed amendments to remove references to credit ratings from Regulation M, replace them with alternative measures of creditworthiness and impose related recordkeeping obligations on broker-dealers (the “Proposal”). Our Legal Update discusses key elements of the SEC’s Proposal.
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Legal Update: Proposed Revisions to Volcker Rule Covered Funds Provisions
On January 30, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the Commodity Futures Trading Commission proposed revisions to the covered funds provisions of the Volcker Rule. The proposal is intended to address the…
Beyond Auto Leasing: The Use of Titling Trusts in Structured Finance Transactions
By Jon D. Van Gorp on
Posted in Structured Finance
A primary feature of most structured finance transactions is the initial transfer of the assets being financed. The time, effort, and expenses of an asset transfer may be an impediment to the execution of a successful transaction. For decades, auto lease transactions have mitigated this impediment through the use of titling trusts, which allow for…