The Securitisation Regulation will be directly applicable law across the EU and will apply to securitisations, the securities of which are issued (or where no securities are issued, the securitisation positions of which are created), from 1 January 2019.
The Securitisation Regulation was published in the Official Journal of the European Union on 28 December 2017 and entered into force on 17 January 2018. They incorporate comments made in feedback to the December Consultation Paper and arising from a public hearing on the proposed technical standards in February 2018.ĮSMA has noted that the second part of its December Consultation Paper, relating to operational standards and access conditions for information made available to securitisation repositories, will now be included in a second batch of documents that will deal with ESMA’s mandates regarding securitisation repositories. The draft Disclosure Technical Standards follow on from ESMA’s consultation paper dated 19 December 2017 and the draft technical standards annexed to that consultation (the “ December Consultation Paper”). This annexed final draft technical standards on the disclosure requirements under the Securitisation Regulation (the “ draft Disclosure Technical Standards”) (consisting of draft Disclosure RTS and draft Disclosure ITS ). On 22 August 2018, the European Securities and Markets Authority (“ ESMA”) published its Final Report on the technical standards on disclosure requirements under the EU Securitisation Regulation (the “ Final Report”). Resources : Clients & Friends ESMA’s Final Draft Disclosure Technical Standards