Pettit Quoted in Asset Securitization Report Article on Impact of New Regulations on Emerging Markets

Banking and Finance partner Laurence Pettit was quoted in an Asset Securitization Report article on the impact of new regulations in the world of emerging markets securitization. Commenting on the risk retention rules put forth under Section 15G of the Securities Exchange Act (as introduced by Dodd-Frank ), Pettit was quoted as saying that while there is an exemption included for non-U.S. issuers, the exemption is very narrow. Pettit added that issuers would have to ensure that no more than 10% of an offering goes into the U.S., otherwise like any U.S. issuer subject to the rule, a 5% retention would need to be structured.