Connecting the Dots: US SEC, ABS Mandates, Financial Modeling and Python

Co-hosted by Ann Rutledge, R&R Consulting, and Diane Mueller, ActiveState, focused on the recent US SEC regulation, ABS Mandates, Financial Modeling and Python.

Recently, the US SEC published a proposal (33-9117) covering a series of new initiatives to address the current lack of transparency of asset-backed securities (ABS). This new series of SEC proposed initiatives are a way of putting "teeth" into Reg AB that would give the SEC (and the market) enough data to police and prevent events like the recent subprime crisis.

In this webinar, Ann Rutledge and Diane Mueller will discuss a new key technical requirement in the SEC proposal; the provision of a Python computer program and the market data required to properly monitor and analyse these complex ABS transactions. The role of the proposed program is to enable the capture of all the complicated terms of an ABS deal in code that can be used to analyze the cash flows in each deal and how the returns will get split up between different parties. Currently, investors, fund managers, and investment managers receive a complex, textual description of this information in the prospectus, which makes it difficult to perform or visualize a rigorous quantitative or if-then analysis of the asset-backed securities.

About the Presenters

Ann Rutlege is a founding principal of R&R Consulting. She received her M.B.A. from the University of Chicago and her B.A. from Wellesley College, where she was elected to the Phi Beta Kappa Society. A Chicago-based commercial banker in the mid-1980s, Ms. Rutledge moved to the futures and options exchange world, where she worked on the floor of the CBOT and later consulted to the CEO of the Hong Kong Futures Exchange on essential reforms that included creating an audit trail, listing the Hang Seng Option contract and writing the first professional competency exam for options. In 1993, she became the Asian global manager of J.P. Morgan Securities’ futures brokerage business. In September 1995, Ms. Rutledge joined the structured finance group of Moody’s Investors Service. Ms. Rutledge is an adjunct assistant professor of asset securitization at the Hong Kong University of Science & Technology and visiting lecturer at the University of California at Irvine.

Diane Mueller is Director, Enterprise Product Management at ActiveState. She has been designing and implementing products and applications embedded into mission critical financial and accounting systems at F500 corporations for over 20 years. Diane has been actively involved in development efforts of XBRL Open Standard for the past 11 years. She serves on both the XBRL International Steering Committee and the Best Practices Board, chairing the software interoperability working group and the XBRL Rendering Technical Working Group, as well as an active member of the RIXML.org working group.