Securitisation Regulation: Difference between revisions
imported>Doug Williamson (Create page. Source: Clifford Chance briefing paper https://www.treasurers.org/ACTmedia/The_EU_Securitisation_Regulation___do_I_need_to_worry_6040565.pdf) |
imported>Doug Williamson (Link with Issuer page.) |
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* [[Covered bond]] | * [[Covered bond]] | ||
* [[Factoring]] | * [[Factoring]] | ||
* [[Issuer]] | |||
* [[Originator]] | |||
* [[Securitisation]] | * [[Securitisation]] | ||
* [[Securitisation special purpose vehicle]] | * [[Securitisation special purpose vehicle]] | ||
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* [[Significant Risk Transfer]] | * [[Significant Risk Transfer]] | ||
* [[Solvency II]] | * [[Solvency II]] | ||
* [[Sponsor]] | |||
* [[SSPE]] | * [[SSPE]] | ||
* [[Sukuk]] | * [[Sukuk]] | ||
Revision as of 09:55, 10 July 2019
European Union (EU).
The EU Securitisation Regulation applies generally to securitisations issued on or after 1 January 2019.
The Securitisation Regulation legislative package introduces severe penalties (including fines of up to 10% of annual net turnover on a
consolidated basis) for non-compliance applied to issuers, original lenders, originators and sponsors.
It repeals the main securitisation provisions in existing separate legislation for banks (the Capital Requirements Regulation, or "CRR"), insurers (Solvency II) and fund managers (the Alternative Investment Fund Managers Directive (AIFMD) regime). It replaces them with a harmonised securitisation regime applicable to all institutional investors including UCITS and pension funds.
It also introduces a concept of "simple, transparent and standardised" (or "STS") securitisations that are regulated more lightly than other securitisations.
