Background Article 44 of the EU’s Securitisation Regulation (“SECR”) requires the Joint Committee of the European Supervisory Authorities (“ESAs”) to produce a report every three years on: (a) the implementation of...more
The Joint Committee of the European Supervisory Authorities published a report on the implementation and functioning of the EU Securitisation Regulation on 31 March 2025. The purpose of the report is to assess the extent to...more
The European Securities and Markets Authority (ESMA) has published a consultation paper in relation to a simplified reporting template for private securitisations. This follows its previous consultation paper in relation to...more
On 30 April 2024, the Financial Conduct Authority (the “FCA”) published Policy Statement PS24/4 (“PS24/4”) setting out the final FCA Securitisation Sourcebook (“SECN”). Subject to the repeal of the Securitisation Regulation...more
The start of 2024 heralds the rollout of a new suite of rules for securitisation in the UK, which once adopted, will replace the existing on-shored UK Securitisation Regulation (the “UKSR”). Originally published in...more
Key Points - The European Commission (“EU Commission”) has published its report on the functioning of the EU Securitisation Regulation which contains the EU Commission’s assessment of a number of key aspects of the...more
As a result of a new securitization amendment (Regulation (EU) 2019/876) passed by the European Parliament and the Council of the European Union (EU), effective as of June 27, 2019, EU parent undertakings and their...more
The PRA’s policy relating to the implementation of the Securitisation Regulation is relevant to PRA-authorised firms subject to the CRR and Capital Requirements Directive IV (together CRR firms) and PRA-authorised Solvency II...more
New types of institutional investors will soon fall under the revised and expanded EU risk retention rules that will affect investors' obligations and requirements for new securitizations, including in relation to due...more
For companies seeking to finance general equipment assets via asset backed securitization (ABS) instruments, risk retention has become an important consideration. In response to the latest financial crisis, both the U.S. and...more
Numerous regulatory developments were enacted or proposed in the United States and the European Union in response to the financial crisis. Although some of the proposed changes are still in the process of being adopted or...more
On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more