Friday, April 9, 2010

IOSCO releases disclosure principles for asset-backed securities

Original posted on Investment Executive by James Langton:

The global umbrella group of securities regulators, the International Organization of Securities Commissions, has published new disclosure principles for asset-backed securities.

IOSCO’s technical committee Thursday published a final report setting out principles designed to provide guidance to securities regulators who are developing, or reviewing, their regulatory disclosure regimes for public offerings and listings of ABS.

“The objective of the ABS Disclosure Principles is to enhance investor protection by facilitating a better understanding of the issues that should be considered by regulators in developing or reviewing their disclosure regimes for ABS,” it says.

It adds that the disclosure topics highlighted in the principles are intended as a starting point for consideration and analysis by securities regulators. “Some regulators may find it useful to incorporate all of the disclosure topics into their ABS disclosure requirements. Others may conclude that the relevance of specific disclosure topics in their jurisdictions may vary according to the characteristics of the issuing entity or the securities involved, and may wish to incorporate the principles on a more selective basis,” it adds.

Download the full document here:

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