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Regulation AB
Practical Law Glossary Item 6-384-7719 (Approx. 3 pages)
Glossary
Regulation AB
A framework of SEC rules, issued in 2004, that set out various registration, disclosure, and reporting requirements for publicly registered asset-backed securities (ABS), including mortgage-backed securities, under the Securities Act and the Exchange Act. The rules were designed to:
- Update and clarify the Securities Act registration requirements for ABS offerings.
- Codify interpretive positions that allow Exchange Act reporting tailored to ABS.
- Provide disclosure guidance and requirements for Securities Act and Exchange Act filings that involve ABS.
- Streamline and codify interpretive positions that permit the use of written communications in a registered offering of ABS in addition to the statutory prospectus.
For more information on Regulation AB, see the adopting release.
Note that, in 2014, the SEC issued final rules for registered ABS that revised and updated Regulation AB. These rules are commonly known as Regulation AB II (Reg AB II). For details on Reg AB II, see Practice Note, Regulation AB II: Overview.