May 2, 2024

FCA and PRA Publish Final Securitisation Rules: Key Points

Charles Armstrong, Thomas Cochran, Steve Curtis, Patrick Leftley, Alex Martin, Christopher Anthony Sullivan, Jeremiah Wagner, Sanjev Warna-kula-suriya

Latham & Watkins LLP

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Firms will need to update their internal procedures and ensure they are ready to comply with the new requirements ahead of 1 November 2024.

HM Treasury (HMT), the Financial Conduct Authority (FCA), and the Prudential Regulation Authority (PRA) have fired the starting gun for the race to 1 November 2024, when the new UK securitisation framework will commence. HMT, the FCA, and the PRA decided to implement the new rules on 1 November 2024 in response to requests from market participants for a six-month period to give them time to prepare.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.