Prohibition Against Conflicts of Interest in Certain Securitizations prohibiting a sponsor of an asset-backed security (including a synthetic asset-backed security) that would result in conflicts of interest effective February 5, 2024.
Background:
* The SEC proposed new Rule 192 to implement the prohibition in Securities Act Section 27B1 (โSection 27Bโ), which was added by Section 621 of the Dodd-Frank Act.
* Section 27B(a) provides that an underwriter, placement agent, initial purchaser, or sponsor, or affiliates or subsidiaries of any such entity, of
