No Good News, but No Bad News Either -
On 16 October 2019 the European Commission (EC) adopted a delegated regulation supplementing Regulation (EU) 2017/2402 (the Securitisation Regulation) and setting out the final...more
10/31/2019
/ Collateralized Loan Obligations ,
Disclosure ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Final Rules ,
Investors ,
Market Participants ,
Originators ,
Regulatory Standards ,
Securitization ,
Securitization Standards ,
Special Purpose Entities ,
Sponsors ,
Technical Standards ,
Transparency
On December 28, 2018, the Japanese Financial Services Agency (the “JFSA”) published a number of notices detailing proposed changes in the regulatory capital requirements applicable to Japanese banks and certain other...more
Late on Tuesday evening, 18 December 2018, the EU Commission posted online its letter to the European Securities and Markets Authority (ESMA) on the data disclosure proposals contained in the regulatory technical standards...more
The new EU securitisation regulations (Regulations)1 came into force on 17 January 2018, and will be directly applicable across the European Union from 1 January 2019. EU retail funds (Undertakings for Collective Investment...more
In an eagerly anticipated (and much speculated upon) decision, a three judge panel of the United States Court of Appeals for the District of Columbia Circuit (“DC Circuit Court”) issued a unanimous opinion on Friday, February...more
2/23/2018
/ Appeals ,
Asset-Backed Securities ,
Collateralized Loan Obligations ,
Dodd-Frank ,
Final Rules ,
Fund Managers ,
Lack of Authority ,
Loan Syndication and Trading Association (LSTA) ,
Reversal ,
Risk Retention ,
Vacated
At the 7th trilogue meeting held in Strasbourg on 30 May 2017 among representatives of the European Parliament, Council of Ministers and Commission, agreement was reached in principle on an EU regulatory framework for simple,...more
After many ups and downs, one might have thought that EU risk retention was done and dusted, but it looks like there may be a few more twists and turns.
On 6 June 2016, the draft Legislative Resolution from the...more
The European Commission published a draft regulation on a European framework for simple, transparent and standardised securitisation on 30 September 2015 (the “Draft Regulation”). The Draft Regulation aims to achieve a better...more
10/8/2015
/ Capital Requirements ,
Collateralized Loan Obligations ,
Commercial Loans ,
Disclosure Requirements ,
Draft Guidance ,
Due Diligence ,
EU ,
Investors ,
Lenders ,
Originators ,
Risk Retention ,
Sanctions ,
Securitization ,
Securitization Standards
Following Dechert’s Legal Update published on 14 September 2015, we have had sight of an updated draft of the proposed EU legislation on securitisations. The updated draft shows signs that regulators have taken on board some...more
The Financial Times published leaked drafts of proposed EU legislation on securitisations on August 25.1 The draft regulations, which would be directly effective in EU member states if adopted, propose changes to the current...more
Since the release of the final U.S. risk retention rule (the “Final Rule”) in October 2014, CLO market participants have been grappling with its ramifications and working to devise solutions that permit collateral managers to...more
7/29/2015
This Essential Guide provides an overview of the legal and regulatory issues likely to affect developers, occupiers and investors in UK real estate.
Real estate -
Real estate law in England and Wales can trace...more
5/29/2015
/ Arbitration Agreements ,
Conservation ,
Construction Industry ,
Intellectual Property Protection ,
Land Owners ,
Land Titles ,
Leases ,
Popular ,
Real Estate Development ,
Real Estate Investments ,
Real Estate Market ,
Stamp Duty Land Tax ,
UK
This Essential Guide describes the most commonly used types of security that can be created or arise over property, the form and contents of a typical mortgage or fixed charge over property, due diligence and pre-completion...more
The Bank of England (“BOE”) and European Central Bank (the “ECB”) recently published a joint response1 to the report and short opinion issued late last year by the European Bank Authority (“EBA”) on how to improve the...more
The European Banking Authority (EBA) published a report, and a short opinion, on how to improve the functioning of the securitization markets, as previously requested by the European Commission. The EBA voiced its support, in...more
Executive Summary -
Following the consultation paper published by the European Securities and Markets Authority (ESMA) in February 2014, on 24 June 2014 ESMA published its final draft of the Regulatory Technical...more
The European Parliament has adopted Commission Delegated Regulation (EU) No 625/2014 of 13 March 2014, relating to Articles 404-410 of the Capital Requirements Regulation (CRR), which replaced the legislation referred to as...more
The European Commission published the final regulatory technical standards on 13 March 2014 specifying the requirements for investor, sponsor, original lenders and originator institutions relating to exposures to transferred...more
The European Securities and Markets Authority (ESMA) published a consultation paper in February 2014, setting out (amongst other things) the draft Regulatory Technical Standards (RTS) on disclosure requirements for structured...more
The European Banking Authority (EBA) published a consultation paper on draft technical standards relating to the implementation of CRD IV on 22 May 2013.
Of particular concern to participants in the CLO market are the...more