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Article: SEC drafts guidelines for asset-backed securities' sale.(Business)
- Article from:
- Manila Bulletin
- Article date:
- December 4, 2000
- Author:
CopyrightCOPYRIGHT 2000 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Securities and Exchange Commission (SEC) has set the guidelines for the registration of the asset-backed securities.
Asset-backed securities means securities which represent an undivided ownership interest and the right of the holder to receive payments from the proceeds expected to be derived from the assets forming the asset pool, under the Securities Regulation Code (SRC).
In a draft of the revised rules, the corporate regulator said that only asset-backed securities registered with the SEC in accordance with the SRC and applicable commission rules will be allowed to be offered or sold to the public.
Executive order 318 signed by the ...