Tuesday, June 16, 2009

Obama's regulatory overhaul focuses on asset-backed securities

On Wednesday, the Obama administration is set to unveil its proposed overhaul of financial regulations and the regulatory framework. The changes would include a revamp of asset-backed securities. Buyers would get more information about the securities' underlying assets, while sellers would share in any losses. The EU also plans to adopt a requirement that sellers share in losses, a move that would prevent firms from simply shifting sales of asset-backed securities to European markets.

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