Capital Markets & Securities Law Watch

On May 16, 2025, the SEC’s Division of Corporation Finance issued new and revised Compliance and Disclosure Interpretations (C&DIs) regarding public utility securitizations. These C&DIs were issued following a no-action letter issued to the Securities Industry and Financial Markets Association that clarified certain ambiguities related to Rule 192 under the Securities Act of 1933, the securitization conflicts-of-interest rule.