Why you should attend
As the securitization world continues to emerge from the financial crisis, it faces a continuing flow of new regulation and, in some cases, uncertainty. Some asset-backed securities (ABS) and mortgage-backed securities (MBS) markets are experiencing robust activity, with issuance volumes steadily rising. Other markets are slower to reemerge. The regulatory landscape continues to be unclear, although significant new regulatory developments have occurred in certain areas.
At this program you will receive an intensive and comprehensive introduction and update on what legislative and regulatory actions and initiatives are underway and what market responses can be expected.
What you will learn
- Learn about new legislative and regulatory developments:
- Financial regulatory, securitization and derivatives reform, including Dodd-Frank implementation and rulemaking, and Reg AB II
- Developments in risk retention
- Significant developments in the regulation of derivative products
- The impact of new U.S. risk-based capital rules
- Hear an overview of activity in ABS markets and responses to new regulations
Who should attend
Attorneys at law firms, corporations, investment banks, investment funds, and other financial institutions dealing with asset-backed securities or structured products. Business professionals who need to understand the securitization process.
PLI Group Discounts
Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.
Cancellations
All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.
Morning Session: 9:00 a.m. - 12:30 p.m.
9:00 Opening Remarks
Patrick T. Quinn
9:15 Observations from SEC Office of Structured Finance
- Overview of the Office of Structured Finance
- Recap of the last year
- Staff observations
- Outlook for 2014
Robert Errett
10:15 Overview of Proposed Changes to Regulations Governing Asset-Backed Securities
- Reg AB II re-proposal
- New conflict of interest rules
- New due diligence rules
- Investment Company Act proposed amendments
- Update on status of SEC’s waterfall computer program proposal
- Status of SEC’s proposal to condition availability of private placement safe harbors on an issuer undertaking to provide investors with the same information as would be required in a registered transaction
Chris DiAngelo (Moderator), Richard Johns, Stephen S. Kudenholdt, Stuart Litwin
11:15 Networking Break
11:30 Risk Retention and Securitization Transactions
- Proposed rules from U.S. regulators
- European Union risk retention requirements
- Potential impact on future issuance
Andrew M. Faulkner, Lawrence D. Rubenstein, Bianca A. Russo
12:30 Lunch
Afternoon Session: 1:45 p.m. - 5:00 p.m.
1:45 Derivatives Regulation and its Impact on Securitization
- Update on derivatives reforms under Dodd-Frank
- Clearing and margining
- CPO/CTA registration and reporting
- Documentation requirements
- Grandfathering
Ellen L. Marks, Jeffrey L. Robins
2:45 Developments in Risk Based Capital Rules
- Overview of new U.S risk-based capital rules for securitizations
- Overview of the Basel consultative paper
- Comparison of the treatment of securitization exposures under the new U.S. rules vs. the old U.S. rules
- Comparison of the treatment of securitization exposures vs. other secured and unsecured bank investments
Carol A. Hitselberger
3:45 Networking Break
4:00 Overview of the Securitization Markets
- Commercial mortgage backed securities
- Residential mortgage backed securities
- Auto loan securitizations
- Student loan securitizations
- Credit card securitizations
Andrew Faulkner, Stuart Litwin, Lawrence D. Rubenstein, Bianca Russo
5:00 Adjourn
Chairperson(s)
Moderator(s)
Speaker(s)
Bianca A. Russo ~ Managing Director and Associate General Counsel, JPMorgan Chase & Co.
Program Attorney(s)
New York City Seminar Location
PLI New York Center, 1177 Avenue of the Americas, (2nd floor), entrance on 45th Street, New York, New York 10036. Message Center, program days only: (212) 824-5733.
New York City Hotel Accommodations
Crowne Plaza Times Square Manhattan, 1605 Broadway (at 48th Street), New York, NY 10019 (212) 977-4000. You can also
make reservations online to access PLI's rates.
PLI programs qualify for credit in all states that require mandatory continuing legal education for attorneys. Please be sure to check with your state and the credit calculator to the right for details.
Please check the CLE Calculator above each product description for CLE information specific to your state.
Special Note: In New York, newly admitted attorneys may receive CLE credit only for attendance at "transitional" programs during their first two years of admission to the Bar. Non-traditional course formats such as on-demand web programs or recorded items, are not acceptable for CLE credit. Experienced attorneys may choose to attend and receive CLE credit for either a transitional course or for one geared to experienced attorneys. All product types, including on-demand web programs and recorded items, are approved for experienced attorneys.
Please Note: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. PLI programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.
If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.
Credit will be granted only to the individual on record as the purchaser unless alternative arrangements (prearranged groupcast) are made in advance.