Re-opening of comment period.
CFR Part: "17 CFR Parts 200, 229, 230, 232, 239, 240, 243, and 249"
RIN Number: "RIN 3235-AK37"
Citation: "79 FR 11361"
Document Number: "Release Nos. 33-9552; 34-71611; File No. S7-08-10"
EFFECTIVE DATE: Comments should be received on or before
ADDRESSES: Comments may be submitted by any of the following methods:
* Use the Commission's Internet comment form (http://www.sec.gov/rules/proposed.shtml); or
* Send an email to firstname.lastname@example.org. Please include File Number S7-08-10 on the subject line; or
* Use the Federal eRulemaking Portal (http://www.regulations.gov). Follow the instructions for submitting comments.
* Send paper comments to Secretary,
All submissions should refer to File Number S7-08-10. This file number should be included on the subject line if email is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/proposed.shtml). Comments are also available for Web site viewing and printing in the
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION: In 2010, the Commission proposed changes to the offering, disclosure, and reporting requirements for asset-backed securities ("ABS"). /1/ Among other things, the Commission proposed to require that, with some exceptions, prospectuses for public offerings of asset-backed securities and ongoing Exchange Act reports contain specified asset-level information about each of the assets in the pool in a standardized tagged data format. The 2010 ABS Proposing Release was published for comment in the
FOOTNOTE 2 See Re-Proposal of Shelf Eligibility Conditions for Asset-Backed Securities, Release No. 33-9244 (
We received comments in response to the proposals and requests for comment recommending that, among other things, because certain potentially sensitive data would form part of the required asset-level disclosures, the asset-level information be provided by means other than public dissemination on EDGAR. /3/ For example, we received comments suggesting that information that may raise individual privacy concerns could be provided to investors through a limited-access Web site rather than through public dissemination of this information on EDGAR. /4/
FOOTNOTE 3 See letters from
FOOTNOTE 4 See, e.g., letter from VABSS IV. END FOOTNOTE
The staff has prepared a memorandum summarizing additional information about the use of Web sites in the ABS market as a means to disseminate asset-level and other offering information. /5/ The memorandum describes one potential method to address privacy concerns related to the dissemination of potentially sensitive asset-level data. This method would require issuers to make asset-level information available to investors and potential investors through a Web site that would allow issuers to restrict access to information as necessary to address privacy concerns. The Commission is considering this method and therefore re-opening the comment period to permit interested parties to comment on the staff memorandum, which has been included in the comment file, addressing these issues. The comment period will be re-opened for thirty days to allow comment on all aspects of the approach, including the benefits and costs of and reasonable alternatives to such an approach, for issuers to make asset-level data directly available to investors and potential investors, taking into account the possible sensitive nature of such data.
FOOTNOTE 5 See Memorandum from the
By the Commission.
[FR Doc. 2014-04433 Filed 2-27-14;
BILLING CODE 8011-01-P
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