On February 25, 2014, the Securities and Exchange Commission
(the "SEC") re-opened the comment period on the series of
proposed rules commonly referred to as "Regulation AB
II." Specifically, the SEC is seeking comment on a
proposed approach for the dissemination of potentially sensitive
asset-level data to investors whereby an issuer would post such
information on an issuer-sponsored website, which could be
access-restricted, rather than file such information publicly with
the SEC. This proposed approach is outlined in an SEC staff
memorandum included in the public comment file for Regulation AB
II. The deadline for comments on the proposed approach is March 28,
2014.
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