The Securities and Exchange Commission (SEC) is seeking public comments on the information collection for Form ABS-EE under the Paperwork Reduction Act of 1995. The form is used by asset-backed issuers to report detailed information about asset-backed securities, both at the time of securitization and on an ongoing basis. The SEC estimates that 13,374 responses are filed annually, with a total burden of 170,089 hours shared between external and internal resources. The public is invited to provide feedback within 60 days regarding the necessity, accuracy, and ways to reduce the burden of this information collection.
Simple Explanation
The Securities and Exchange Commission (SEC) wants to know what people think about a important form used by businesses when they make special kinds of sales called asset-backed securities. They're curious if filling out this form takes too much time and if there's a way to make it easier or better.