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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 5: Amendments to the Due Diligence and Risk Retention Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 4: Amendments to the Transparency Regime Under Article 7 of the EU Securitisation...

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 3: "Resilient Securitisations"

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 2: Proposed Definitions of "Public" and "Private" Securitisations

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 1: STS Label Extended to Unfunded Credit Protection

In January 2019, the EU introduced its current regulatory framework for securitisations, seeking to improve transparency, robustness, and market confidence following the global financial crisis. Market participants have...more

ISDA Publishes Financial Power Purchase Agreement (FPPA) Template

Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market...more

IOSCO Releases Consultation on Pre-Hedging Practices

Pre-hedging has been the subject of significant debate within the financial industry in recent years, with concerns often raised over potential conduct and market integrity issues. The regulatory landscape remains fragmented,...more

EMIR 3 Published in the Official Journal of the European Union

EMIR 3, published in the Official Journal of the EU on December 4, 2024, introduces substantive changes to the existing clearing framework and margining exemptions under the EMIR Regulation....more

FCA Consulting on Proposed Changes to the Derivatives Trading Obligation

The Background: In 2021, the Financial Conduct Authority ("FCA") and HM Treasury began consulting on the Wholesale Markets Review (the "Review"), a broad review of the structure, functioning, and regulation of secondary...more

French Court Rules on Safe Harbor of Netting Agreements in Insolvency

For the first time ever, a court in France has examined the compatibility of the statutory netting safe harbor with the French Constitution. The French High Court of Justice (Cour de cassation) addressed the preliminary...more

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