Disclosure and Reporting

A strong disclosure regime and resulting transparency allows for greater investor understanding of and confidence in specific securities.

Overview

Enhanced transparency has become a key focus for the securitization industry in order to improve investor confidence and expand the investor base. A consistent and standard securitization structuring and reporting framework is critically important within this effort.

Publications & Resources

SFA Comments on FDIC Proposed Revisions to Securitization Safe Harbor Rule

October 23, 2019

The Structured Finance Association (“SFA”) appreciates the opportunity to respond to the proposed revision (the “Proposal”) to the Securitization Safe Harbor Rule (the “Rule”) released by the Federal Deposit Insurance Corporation (the “FDIC”) on August 22, 2019.

SFA Builds Consensus on Equipment, Auto Dealer Floorplan and Credit Card ABS Disclosure

June 23, 2015

On August 27, 2014, the Securities and Exchange Commission (the “Commission” or “SEC”) adopted final rules under Regulation AB that substantially revise the offering process, disclosure and reporting requirements for registered offerings of asset-backed securities (“ABS”).

Reg AB II Student Loan ABS Disclosure: Our Comments

June 15, 2015

SFA Responds to SEC Cybersecurity Disclosure Proposal

May 12, 2022

On May 9, SFA submitted a letter to the SEC regarding its proposed cybersecurity disclosure that would scope in asset-backed issuers. SFA explains that any cybersecurity disclosure framework for ABS demands tailored standards that align with Reg AB.

News

Disclosure & Reporting Market Structure and Dynamics

Some BNPL Lenders to Report to Credit Bureaus

Published on April 4, 2025

Certain Buy-Now, Pay-Later (BNPL) lenders are beginning to report to credit bureaus. Affirm – one of the largest BNPL lenders – will begin reporting to…

Disclosure & Reporting

Federal Court Rules on Challenge to Corporate Transparency Act, Declaring it Unconstitutional

Published on March 8, 2024

Judge Liles C. Burke of the U.S. District Court in Huntsville, AL ruled on March 1st that the Corporate Transparency Act (CTA), which was intended…

Capital and Other Bank Regulations Disclosure & Reporting

Treasury Urges Insurers to Manage and Disclose Climate-Related Risks

Published on June 30, 2023

In an extensive report released on June 27, the U.S. Department of Treasury called on insurers and state regulators to ramp up their efforts to…

Disclosure & Reporting ESG Investing

Fed’s Pilot Program for Climate-Related Stress Tests—Six-Month Deadline for Six Bank Participants

Published on January 20, 2023

Fed’s Pilot Program for Climate-Related Stress Tests—Six-Month Deadline for Six Bank Participants Participants in the Federal Reserve’s climate stress test pilot program—Bank of America, Citigroup,…

Capitol Hill Disclosure & Reporting

Members of Congress Submit Bipartisan Letter on SEC Rule 15c2-11

Published on August 5, 2022

Members of Congress Submit Bipartisan Letter on SEC Rule 15c2-11 In late July twenty members of Congress submitted a bipartisan letter to the Securities and…

Dallin Merrill

Senior Director, MBS Policy

Ready to Get Involved?