Regulation AB responses submitted

I helped draft letters from CREFC, MBA and MISMO to the SEC commenting on the proposed Regulation AB changes. The letters were filed Aug. 2. While all of them supported the concept of transparency, none of them proposed a data list to actually achieve transparency.

So I also wrote my own letter.

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CMBS transparency now required by law!

With great fanfare today, President Obama signed the financial reform bill into law. Many times over the past several months, I thought this legislation would die, but this is a big, important deal. And now the law is clear: Transparency is required for securitized products.

The big question is whether the SEC enacts rules and regulations to actually bring about transparency.

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