Goldman Sachs’ Abacus CDO was not the only part of the structured finance market that was occupying the SEC last month. On April 7 SEC Chairman Mary Schapiro proposed a new set of rules for the securitization market designed to “better protect the investor”. But some participants fear that it will close down important parts of the ABS market just as it is reopening.
As with all new regulation aimed at this market since 2007 the focus is on increased transparency, but the regulator is seeking to go much further than simply increasing information flow.
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