Starting June 15, the Securities and Exchange Commission will require issuers and underwriters of rated asset-backed securities to publish findings of any third-party due diligence report within five days after a deal prices.
Richard Simonds, partner in Alston & Bird’s Finance Group, said underwriters are worried about the due diligence disclosure requirements, with some looking to reduce the amount of work involved.
“They say do all due diligence in-house,” he said.
Richard Simonds, partner in Alston & Bird’s Finance Group, said underwriters are worried about the due diligence disclosure requirements, with some looking to reduce the amount of work involved.
“They say do all due diligence in-house,” he said.