The European Securitisation Regulation: The Countdown has Begun....
Draft Technical Standards Published for Consultation by the European Supervisory Authorities—An Update and Overview
Regulation (EU) 2017/2402, which is known as the "Securitisation Regulation" and lays down a general framework for securitisation and creates a specific framework for simple, transparent and standardised securitisation, 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 onward. The Securitisation 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 Securitisation Regulation.
This Jones Day White Paper summarizes the draft technical standards on disclosure requirements to be fulfilled by originators, sponsors and securitisation special purpose entities in securitisations as proposed by ESMA in its Consultation Paper of 19 December 2017.