Principles for the Ongoing Disclosure of Asset-Backed Securities
Some jurisdictions do not have disclosure regimes that are specifically designed for ABS. The disclosure topics highlighted in these ABS Ongoing Disclosure Principles are therefore intended as a starting point for consideration and analysis by securities regulators that are developing or reviewing ongoing disclosure requirements applicable to ABS. Some regulators may find it useful to incorporate all of the disclosure topics into their ABS disclosure requirements. Others may conclude that the relevance of specific disclosure topics in their jurisdictions may vary according to the characteristics of their specific regulatory framework, the characteristics of the issuing entity, or the characteristics of the securities involved, and may therefore wish to incorporate the Principles on a more selective basis as part of their general regulatory disclosure regime. These principles are applicable to public ABS. However, a jurisdiction that is developing disclosure requirements for private ABS also may look to these principles for relevant guidance. Coordination of disclosure requirements should be sought, to the extent possible, by securities regulators, prudential regulators, central banks, and other regulatory bodies that may set ongoing disclosure requirements for ABS.