Policy and Regulation

The judge also sealed a document in the lawsuit the AARP Foundation joined but the defendants still must produce fee codes in the proposed class action.

Plain vanilla deals likely exempt, if equity is not sold to third parties

The decision narrows scope of impacted transactions and participants, to the market's relief.

Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.

The class action case, first brought up in 2020, accused Lakeview Loan Servicing and LoanCare of violating the Texas Debt Collection Act by charging "junk" fees.

The SEC could crimp effective investor communications, while IOSCO seeks feedback on 12 proposed "good practices" when operating in the leveraged loan and CLO markets.

An industry organization is relieved as the regulators extend an exemption to CLOs, but they remain vigilant for how the new order will ripple through the market.

The new rule sets a nationwide standard for disclosing all "material" breaches within four days — much sooner than many state-level disclosure rules.

Junior tranches are at the heart of the debate around whether the capital that insurers currently hold against CLOs is sufficient, and the NAIC may soon impose stiffer risk-based capital requirements.

Despite firm objections from structured finance advocates, some institutional investors welcome the additional protection, citing Wall Street's potential conflicts of interest.