U.S. regulators released a scaled-back proposal on Tuesday that seeks to soothe industry concerns over a plan to force issuers of asset-backed securities to disclose sensitive loan-level data to investors. The Securities and Exchange Commission had been poised to vote on the new asset-backed disclosure rules earlier this month, but abruptly yanked it from the public agenda with little explanation. On Tuesday, the reasons for the delay became clear after SEC staff released a 19-page memo that lays out a new and less- onerous disclosure alternative that aims to strike a balance between investor protection and privacy. "Balancing privacy protections on consumer loans with the need for disclosing more loan level data to investors continues to be an extremely thorny set of issues for the SEC," said Tom Deutsch, executive director of the American Securitization Forum, in response to the SEC's revamped proposal. The SEC wants issuers to provide greater information about the quality
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