ARTICLE
18 December 2018

The Securitisation Regulation: Technical Standards On Risk Retention And Transparency

W
Walkers

Contributor

Walkers is a leading international law firm which advises on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. From our 10 offices, we provide legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers.
In our latest European Securities Law Update we provide a high-level insight into the recently published technical standards relating to risk retention and disclosure requirements
Ireland Finance and Banking

In our latest European Securities Law Update we provide a high-level insight into the recently published technical standards relating to risk retention and disclosure requirements which supplement Regulation (EU) 2017/2402 (the "Securitisation Regulation").

Background

The Securitisation Regulation was published in the Official Journal of the European Union on 28 December 2017 and will become directly applicable in Member States from 1 January 2019.

The Securitisation Regulation will replace the existing patchwork of sector-specific legislation governing European securitisations with harmonised rules on due diligence, risk retention and disclosure applying to all securitisations and also creates a framework for simple, transparent and standardised ("STS") securitisations.

Together with the related regulation amending the Capital Requirements Regulation (Regulation (EU) 2017/2401) (the "CRR Amending Regulation") Regulation"), the development of a simple, transparent and standardised securitisation market constitutes a building block of the Capital Markets Union ("CMU") and aims to strengthen the legislative framework implemented after the financial crisis to address the risks inherent in highly complex, opaque and risky securitisation.

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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.

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