The Financial Industry Regulatory Authority, an internal cop for the U.S. securities industry, has proposed a narrower definition of “asset-backed security” to facilitate the reporting of certain transactions, including Rule 144A ABS transactions, to the group’s disclosure system. The new redefined ABS category would apply to a broad group of securities, including ABS pools backed by credit-card receivables, student loans, auto loans and other products and instruments that currently fall under the ABS umbrella. The proposed changes concern required reporting to FINRA’s Trade Reporting and Compliance Engine. Under FINRA’s proposal, ABS is...