American Bar Association
 
Securitization and Structured Finance Committee

ABA Section of Business Law


Securitization and Structured Finance Committee


Who We Are



The mission of the Securitization and Structured Finance Committee is to provide a forum for discussion of legal issues and market trends related to securitization and other structured finance transactions, including structuring, legal, regulatory, accounting and market aspects of transactions and the securities markets.

Committee Facts

  • The Committee has approximately 580 members
  • Committee members include attorneys representing a broad array of market participants and experience levels
  • We have three in-person meetings each year at the Business Law Section Spring and Fall Meetings and at the ABA Annual Meeting
  • Our meeting at the Fall Meeting often includes participation by representatives of the Securities and Exchange Commission
  • Our Comment Letters Subcommittee, through regulatory comment letters, serves as a source of information to the SEC and other regulators about securitization and structured finance transactions and the securities market, and about the impact that proposed rulemakings and laws will have on such transactions
  • Our Structured Finance Litigation Subcommittee serves as a forum for identifying cases that impact securitization and structured finance transactions and assisting transaction lawyers to address issues arising from such cases
  • We sponsor and co-sponsor programs relating to areas of significant interest to practitioners, including the latest securitization developments
  • We provide members with significant opportunities to participate in our activities

Areas of Expertise

  • Public, private and cross-border securitization and structured finance transactions
  • Securities laws relating to securitization and structured finance transactions, including disclosure, offering and reporting requirements under the SEC’s Regulation AB, the Investment Company Act of 1940 and the Trust Indenture Act of 1939
  • Other regulatory requirements impacting securitization and structured finance transactions, including the FDIC’s securitization safe harbor rules, credit rating agency reforms, risk retention requirements and swap regulations
  • International regulations affecting securitization and structured finance transactions, including Canadian and European Union securitization and accounting regulations
  • U.S. and international securitization trading and markets
  • Opinion practice relating to securitization and structured finance transactions

Recent Committee Publications



Following the Obama Administration's announcement of its proposed legislative reforms aimed at securitization and recognizing securitization's critical role both to the availability of consumer credit and to corporate liquidity, the Securitization and Structured Finance and Banking Law Committees formed a drafting committee of lawyers with broad experience in the asset securitization and banking arenas. The Committees believed that a "white paper" describing securitization's history, structures, economics and role in the economic crisis, and discussing some of the possible effects of the proposed reforms, could educate readers and assist policymakers in formulating a targeted approach to securitization reform that would avoid unintended consequences. The drafting committee, chaired by Ellen Marks (Latham & Watkins LLP), recently completed the paper, entitled "Securitization in the Post-Crisis Economy: An ABA Business Law Section White Paper." The White Paper was presented by the Committees to the ABA Task Force on Financial Markets Regulatory Reform, and with its encouragement, the Business Law Section furnished copies of the White Paper to Senator Dodd, Congressman Frank and other key members of Congress on January 25, 2010.

Our thanks to Ellen Marks and the other members of the drafting committee, Vicki Tucker (Hunton & Williams LLP), Mark J. Kowal (Sidley Austin LLP), Craig A. Wolson (former chair of the Structured Finance Committee of the New York City Bar Association), Cristeena Naser (American Bankers Association); Colleen H. McDonald (Reed Smith, LLP), Karla L. Boyd (AMACAR Group), Shaileen Patton (Pillsbury Winthrop Shaw Pittman LLP), Mairi V. Luce (Duane Morris LLP), and to Mark Ditto, Beth Lawnicki and Scott Michie of Latham & Watkins LLP for their assistance.

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Leadership



Chair:  Martin Fingerhut

Vice-Chair:  Ellen L Marks

Committee Roster (585 total members)


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Programs, Meetings and Events



Section Events
April 17, 2014
Location: N/A
Format: Webinar/Teleconference

April 22, 2014
Location: N/A
Format: Webinar/Teleconference

April 23, 2014
Location: N/A
Format: Webinar/Teleconference

Subcommittees Click [+] for listing



 Sub Committees
 Groups

Comment Letters



Re: Credit Risk Retention - Use of Participation Interests
February 13, '12 re: Prohibition against Conflicts of Interest in Certain Securitizations
November 16, '11 re: Re-Proposal of Shelf Eligibility Conditions for Asset-Backed Securities
November 15, '11 re: Treatment of Asset-Backed Issuers Under the Investment Company Act - Advance Notice of Proposed Rulemaking Regarding Rule 3a-7 ("ANPR")
November 14, '11 re: Companies Engaged in the Business of Acquiring Mortgages and Mortgage-Related Instruments
more links...

Sites of Interest



ABA Federal Regulation of Securities Committee: Sites of Interest
American Securitization Forum (ASF)
Blake, Cassels & Graydon LLP: Structured Finance Alerts
Hunton & Williams LLP: Financial Industry Recovery Center Client Alerts
Mayer Brown LLP: Securitzation.net
Morrison & Foerster : Financial Crisis and Regulatory Reform
Professor Steven L. Schwarcz's Scholarly Papers
Securities Industry and Financial Markets Association (SIFMA)
Sonnenschein: Financial Crisis Special Situations Group Client Alerts

Committee Liaisons




more...

Modified by Graham Hunt on February 19, 2014

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