Regulation (EU) 2017/2402, which lays down a general framework for securitisation and creates a specific framework for simple, transparent and standardised securitisation ("Regulation"), came into force on 18 January 2018 and will apply to European credit institutions, insurance companies and pension funds as well as alternative investment fund managers from 1 January 2019 onwards. The Regulation tasks the three European supervisory authorities with developing regulatory technical standards and implementation technical standards for a number of key areas addressed in the Regulation.
This Jones Day White Paper summarizes the draft technical standards on content and format of the STS notification under the Regulation as proposed by ESMA in its Consultation Paper of 19 December 2017 (ESMA33-128-33).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.