SEC Chief Backs Wave of New Securitization Rules, Acknowledges Areas for Improvement
June 24, 2011
The governments top securities industry regulator rejected some of the pushback against the huge volume of new regulations for the MBS and ABS market, while reporting that officials are working to address some major concerns as they finalize the rules. Efforts to implement the reforms that would bring investors back to the markets are being met with strong and what I believe to be short-sighted resistance, said Mary Schapiro, chairman of the Securities and Exchange Commission, during a speech at this weeks American Securitization Forum annual meeting. In the aftermath of the crisis, would-be investors are waiting for needed reforms in...