In The News

| December 19, 2011

No Conflict Here

The US Securities and Exchange Commission (SEC) has proposed several new rules in recent months that have the potential to impact the catastrophe bond and other ILS markets.

One such proposal is Rule 127B, which relates to conflicts of interest. The SEC plans to enact this proposal under the Securities Act, drawing on its mandate under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. SEC chairman Mary Schapiro said the proposed rule “is designed to ensure that those who create and sell asset-backed securities (ABS) cannot profit by betting against those same securities at the expense of those who buy them”.

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