Regulatory Alerts2021-03-26
ESAs Opinion on the Jurisdictional Scope of Application of the Securitisation Regulation
The European Supervisory Authorities issued this opinion to the European Commission to resolve jurisdictional ambiguities in the Securitisation Regulation regarding third-country entities. The ESAs recommend that the Commission issue interpretative guidance establishing that EU-based sell-side parties are directly accountable for compliance with risk retention, transparency, and credit-granting obligations. Additionally, the ESAs propose amending the regulation to address verification challenges for institutional investors investing in securitisations involving third-country parties.
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