Expanding Proven Financing for American Employers Act

Expanding Proven Financing for American Employers Act This bill amends the Securities Exchange Act of 1934 to permit the manager of a qualified collateralized loan obligation, or one or more of the majority-owned affiliates of the manager (or its knowledgeable employees and other employees), to meet the risk retention requirement for a qualified collateralized loan obligation by the purchase and holding (without transferring the credit risk) of at least 5% of the equity of the collateralized loan obligation. The bill prescribes characteristics of a qualified collateralized loan obligation with respect to: asset quality protections, asset portfolio protections, structural protections, alignment of manager and investor interests, regulatory oversight requirements, and transparency and disclosure requirements.