The Securities and Exchange Commission last week released a report on its many proposed rules relating to credit ratings, several of which pertain to asset-backed securities, as an update regarding its heavily-laden plate of rule changes that must eventually be adopted and implemented. When the Dodd-Frank Act became law, a new provision came with it in the Exchange Act, which required the SEC to collaborate with other regulators to “jointly prescribe” rules regarding mandatory credit risk retention in ABS offerings. These hotly-debated rules were proposed in ...