Podcast: ESMA Report: Undue Pressure on Companies
Key takeaways The securitisation market stands on the brink of long-needed transformation - an opportunity too important to miss. The European Commission's package of securitisation reforms helpfully addresses some key...more
In this In Practice article, the authors look at what sell-side entities would need to consider if the reforms to the EU’s securitisation reporting regime, such as a new template for private securitisations, were to go ahead...more
Proposals for securitisation reform are on the horizon in the EU and the UK. A significant package of reforms could facilitate meaningful change and allow the securitisation market to meet its full potential. Reform also...more
The ESMA Consultation comes at an interesting time when the possibility of streamlining template reporting is being considered as part of the wider review of the European Securitisation Regulation (EUSR) and as considered...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
The European Securities and Markets Authority (ESMA) has published its peer review report on national competent authorities' (NCAs) supervision of simple, transparent and standardised (STS) securitisations. The report looks...more
Securitisation of subscription finance facilities is en vogue in fund finance. We have written previously on this topic, offering a primer on capital call securitisations and a Q&A regarding a first publicly rated cash...more
The European Securities and Markets Authority (ESMA) issued a Consultation Paper on 13 February 2025 presenting a proposal for a simplified disclosure template for private securitisations. ESMA’s stated aim is to reduce...more
ESMA has launched a Consultation on a draft simplified disclosure template for "European private securitisations". The stated objective of the Consultation is to streamline disclosure templates for private...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
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a...more
The European Securities and Markets Authority has published a consultation paper on supervisory expectations for the management bodies of firms directly supervised by ESMA, namely credit rating agencies, benchmark...more
Commission Delegated Regulation (EU) 2024/1700 has been published in the Official Journal of the European Union, supplementing the EU Securitization Regulation with regard to RTS specifying, for simple, transparent, and...more
Key developments in May 2024: ESG: The Financial Conduct Authority (“FCA”) updated its webpage on the sustainability disclosure requirements (“SDR”) and investments labelling regime. Among other things, the webpage has been...more
The detailed disclosure requirements under the Securitisation Regulations in the EU and UK, which aim to ensure that investors receive the information needed to make informed assessments, have been considered by many market...more
ESMA has published a Consultation Paper in relation to the securitisation disclosure templates under Article 7 of the EU Securitisation Regulation. This follows the report of the European Commission in October 2022 setting...more
The UK and Europe have released a number of updated requirements for securitisations that, while not effecting material changes, are notable in their scope and number. Below, we give a brief guide to these changes and their...more
On 13 June 2023, the European Commission published a proposal for a regulation on the transparency and integrity of ESG rating activities, following concerns about the reliability, comparability and transparency of ESG...more
The EBA has launched a consultation on two RTS and ITS on the functioning of supervisory colleges under the CRD. These new technical standards will ensure that the Level 2 framework for the functioning of supervisory colleges...more
ECB in focus is our blog dedicated to the banking supervisory activities of the European Central Bank (ECB). We report on key developments in European banking regulation led by the ECB as part of the Single Supervisory...more
The Council of the European Union and the European Parliament announced, on 28 February 2023, that provisional agreement on the European Green Bond Standard (the EU GBS and the Regulation) had been reached. More recently the...more
On 12 December 2022, the three European Supervisory Authorities (“EBA,” “EIOPA” and “ESMA”) published a joint advice on the review of the securitisation prudential framework....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
The European Commission recently published its long-anticipated report to the European Parliament and the Council of the European Union on the functioning of the EU Securitisation Regulation. The report contains important...more
On 10 October 2022, the European Commission (the “Commission”) published its report (the “Report”) to the European Parliament and Council on the functioning of Regulation (EU) 2017/2402 (the “EU Securitisation Regulation”) as...more