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Trusted Advisors to Businesses throughout North America

Regulation AB is a comprehensive set of new rules and amendments that address the registration, disclosure and reporting requirements for asset-backed securities (ABS) under the Securities Act of 1933 and the Securities Exchange Act of 1934.  Because the ABS market is a relatively new and fast growing component of the U.S. capital markets, regulators and industry professionals alike sought to bring about transparency and clarity regarding registration, disclosure, and reporting requirements for asset backed securities.

Regulation AB Overview

Thus, the main focus of Regulation AB consists of twenty-four rules, commonly known as “items”, which are numbered items 1100 through 1123.  These twenty-four items comprehensively address the four primary regulatory areas affecting asset-backed securities: Securities Act Registration, disclosure, communications during the offering process, and ongoing reporting under the exchange act.  In rolling out Regulation AB, the SEC sought to update and create a higher degree of clarity regarding securities act registration requirements for asset-backed securities, along with expanding the various types of securities that may be offered.  Additionally, a consolidation of existing conditions regarding exchange act reporting and streamlining existing positions for written communication in a registered ABS offering was also sought.  Lastly, the remediation of no-action, disjointed servicing standards, such as the USAP, was to be augmented, and ultimately replaced, by a more comprehensive, stringent, and thorough servicing standard.

NDB | Your Regulation AB Auditor and Compliance Experts

NDB provides a wide range of services to help clients meet the demands of Regulation AB compliance.  Though in its infancy, Regulation AB will quickly require considerable time and resources from servicers for ensuring all aspects of Item 1122 and Item 1123 have been complied with.  Our goal is to provide an efficient, cost-effective approach for Regulation AB compliance.

Our services for Regulation AB are comprised of the following areas:

• Regulation AB Item 1122 Readiness Assessment
• Regulation AB Item 1122 Compliance with Applicable Servicing Criteria
• Regulation AB Item 1123 Servicer Statements
• Regulation AB Consulting and Support Services

NDB also provides compliance services for MERS and USAP.

For more information on our Regulation AB services, please visit our Regulation AB site at or contact Christopher Nickell, CPA, at 1-800-277-5415, ext. 706 or email him directly at This email address is being protected from spambots. You need JavaScript enabled to view it.


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