New Rules on Asset Backed Securities

Summary:

With the nearly catastrophic crash of the market in 2008 on the minds of many, regulators are hotly pursuing legislation aimed at tightening up rules governing bank-created asset backed securities. Recall these assets (some of which were highly toxic) were spliced into the entire financial system setting off the panic. In an effort to reign this in, the FDIC has recently proposed that banks hold onto at least 5% of these securities (which may include mortgages, car loans, and other asset backed transaction) or risk government seizure of these assets in the event of a failure. The SEC has also proposed a similar rule. Industry titans on both sides of the debate have lined up to voice their support or opposition. As with everything, the devil is in the details and there are many questions regarding this proposed bill’s implementation.

The Knowledge Group has assembled a team of key experts to help you make sense of this important new proposed law and its impact on your firm. Join this course by clicking the “Register” button below. Early registration is recommended as space is limited.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 2.0
Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.
Advance Preparation: Print and review course materials
Course Code: 104001

SEGMENT 1:

Christopher M. Cutler, Partner (Former Assistant Director, PCAOB, Division of Enforcement and Senior Counsel, U.S. SEC, Division of Enforcement),
McGuireWoods LLP

** Speaker Talking Points to be added soon.. **

SEGMENT 2:

John Kiff, Senior Economist,
International Monetary Fund

- How all of the initiatives might combine to halt rather than restart securitization
- Looking at what is happening in Europe

SEGMENT 3:

Jordan E. Yarett, Partner, Co-Head, Finance Group ,
Paul, Weiss, Rifkind, Wharton & Garrison LLP

- Dodd-Frank Bill --- Application of risk retention rule to ABS and MBS securities.
- Proposed revised Regulation AB Rules --- Application of Reg AB to Rule 144A securities
- Rule 17g-5 --- Rating Agency Conflicts of Interest rule.

SEGMENT 4:

Dr. Faten Sabry, Senior Vice President,
NERA Economic Consulting

- Economic impact of the risk retention regulations on the cost and availability of credit to consumers and businesses with a focus on the US
- The implications of the proposed reg AB

SEGMENT 5:

Chuck Weilamann, Senior Vice President, U.S. & European Structured Finance,
DBRS, Inc.

- Practical application of Rule 17g-5 (While I appreciate that Jordan has indicated he is covering this, but I believe that I could add some color on how it is functioning)
- Impact of the Dodd-Frank Act on Rating Agencies (Rule 436g, new pleading standards, due diligence reports)
- Significant modifications under Amended Reg AB
- Rating Environment and actual/potential changes to the RA Process Changes

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Who Should Attend?

- Bank/Insurance and Financial Institution Officers
- Financial Analysts
- Finance Managers & Attorneys
- Asset Backed Securitization Practicing Attorneys and Consultants
- Financial Instruments and Credit Consultants
- Capital Markets and Corporate and Securities Consultants

Why Attend?

This is a must attend event to everyone to hear the latest updates and developments on new proposed rules on asset backed securities
- Detailed guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

New Rules on Asset Backed Securities
LIVE Webcast

Thursday, August 26, 2010

12:00pm to 2:00pm (ET)