December 22, 2015 Alert - SFIG Launches Risk Retention Industry Guide
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December 22, 2015
 

 

SFIG LAUNCHES RISK RETENTION INDUSTRY GUIDE

 

SFIG is pleased to share its Industry Guide on the Risk Retention rule.

SFIG’s Industry Guide initiative seeks to contribute to market openness and transparency via a series of guides that reflect “general consensus” opinions of members interested in those particular regulatory rulemakings.

Over the last year, the SFIG Risk Retention Industry Guide Working Group, including, but not limited to, issuers, investors, lawyers, accountants, trustees, and underwriters, have worked together to define a consistent approach to the Risk Retention rule. 

Given that the RMBS compliance date for Risk Retention is Thursday, December 24th, SFIG has developed an interim guide focused on issues either relevant to all asset classes or specific to RMBS. A final guide will be released next year, ahead of the December 24th, 2016 compliance deadline for ABS. This guide is the second in SFIG’s series of industry guides, following the release of our NRSRO Industry Guide in June.

Developed under the leadership of Julie Gillespie of Mayer Brown, the views set forth in the Industry Guide do not constitute legal advice but instead reflect industry views and consensus positions on the questions presented based on various resources and numerous group discussions. All of the views set forth in the Industry Guide are subject to change as market practices develop and/or if additional guidance from the regulatory agencies becomes available. While presented as a consensus, we would highlight that the guide does not purport to represent that all viewpoints have been universally adopted by every SFIG member. 

Please contact Sairah.Burki@sfindustry.org, Jennifer.Wolfe@sfindustry.org, or Alyssa.Acevedo@sfindustry.org with any questions.

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