CLOs that rely on Rule 3a-7 are exempt from several regulatory regimes that apply to traditional CLOs that rely on Section 3(c)(7) -
These CLOs are structured similarly to Section 3(c)(7) CLOs, but are subject to...more
The new Japanese Risk Retention Rules will lead to increased loan and collateral manager due diligence by Japanese investors but not wholesale changes to the CLO market.
Background -
On March 15, 2019, the Japanese...more