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Financial Services Law Analysis and Updates for the Canadian and Cross-Border Financial Community

Category Archives: Ratings

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Further Extension of Exemption from Rule 17g-5(a)(3) for Certain Non-U.S. Transactions

Posted in Ratings, Securitization

On November 16, 2011, the Securities and Exchange Commission (“SEC”) issued an order extending the temporary exemption for rating agencies from the requirements for Rule 17g-5 for certain non-U.S. transactions for a further one-year period, expiring December 2, 2012. By way of background, Rule 17g-5 is a series of rules designed to deal with conflicts… Continue Reading

New DBRS Policy on Securitized Lease Transactions Operative

Posted in Ratings, Securitization

On September 18, 2009, amendments to Canadian insolvency legislation came into effect. On December 22, 2009, DBRS issued a press release explaining its policy response to such amendments in connection with lease structured finance transactions. The policy response required that certain steps be taken by February 26, 2010. As we are now beyond that date, the DBRS policy… Continue Reading