Speech by SEC Commissioner:
Statement at Open Commission Meeting — Re-Proposal of Shelf Eligibility Conditions for Asset-Backed Securities and Other Additional Requests for Comment
Commissioner Kathleen L. Casey
U.S. Securities and Exchange Commission
July 26, 2011
Thanks once again to the staff for your hard work on this release, which revises and re-proposes the shelf eligibility conditions for asset-backed securities that were included in the ABS proposing release that we issued in April 2010, and contains additional requests for comment relating to the disclosure of asset-level information about pool assets.
I support today’s re-proposal.
As I noted when we approved the April 2010 proposing release, the rules that we adopt may have far-reaching consequences on both public and private offerings of ABS, and ultimately on our economy, so it is crucial that we get our rules right.
Accordingly, it will be important for the Commission to carefully review not only public comments on the re-proposed shelf eligibility criteria and additional requests for comment that we are issuing today, but also any additional comments submitted on the April 2010 proposing release, which remains outstanding.
I have no questions for the staff.