Housing Bubble
OFHEO proposes securities disclosure regulation for Fannie Mae and Freddie Mac
Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight, safety and soundness regulator for Fannie Mae and Freddie Mac (the Enterprises), announced that OFHEO has sent to the Federal Register a proposed regulation on securities and financial disclosure for the Enterprises.
The proposed rule expresses the authority of OFHEO regarding disclosure of financial information and provides support for the voluntary registration of common stock by the Enterprises under the Securities Exchange Act of 1934. The proposed rule furthers OFHEO's safety and soundness infrastructure for the Enterprises and is consistent with the Administration’s policies to enhance transparency of America's public companies. Publication in the Federal Register is expected this week. There will be a 60-day comment period from the date of publication.
