SEC securitisation rule could hamper interest rate hedging

ABS participants say breadth of resurrected 2011 proposal creates compliance minefield

After more than a decade gathering dust, an unfinished rule prohibiting conflicts of interest in asset-backed securities (ABS) transactions has suddenly been revived by the US Securities and Exchange Commission. Market participants aren’t quite sure why, but more importantly, they note the scope of the new draft has been broadened substantially.

As a result, larger firms fear compliance with the new rule will prove painfully complicated – the SEC admits as much in the text of the proposal. And

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