Australia-based Westpac Securitisation Management Pty Ltd. filed an S-3 with the Securities and Exchange Commission (SEC) to possibly issue mortgage ABS notes.
To access the entire filing with the SEC, click on the word link.
The agency says the subprime auto lender pledged the same car loans to several lenders and bond deals at once, leaving investors owed about $945 million.
The IPO comes on the heels of several listings by companies seeking to benefit from the rapid growth of AI.
Regulators look set to reserve their harshest interventions for firms caught making misleading statements about climate strategies, according to JPMorgan Chase.
The SEC claims Morningstar put investors at a risk when rating $30 billion in CMBS deals from 2015-2016. Morningstar defends its integrity and independence.
The problem, according to Wilson, is that SOFR will do a poor job hedging risks in turbulent times.