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04/07/2010 05:16:00 PM EST

SEC seeks tighter rules on asset-backed securities

Posted by

Corporate and Securities Law Community Staff

WASHINGTON-(AP) Federal regulators proposed new, stricter rules Wednesday for asset-backed securities, the bundles of loans that helped spark the market's collapse in 2008 and nearly brought down the financial system.

The Securities and Exchange Commission voted 5-0 to propose that Wall Street firms that package and sell asset-backed securities be required…

 

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