Monday March 26 2018

News Source: Fund Regulation

Focus: Other

Type: General

Country: European Union




On 23rd March 2018, the European Securities and Markets Authority (ESMA) published two consultation papers on draft technical standards contained in the Securitisation Regulation (SR), which was published in the Official Journal of the European Union on 28th  December 2017.

ESMA’s consultation papers seek stakeholders’ views on:

  1. The application requirements for firms seeking to register with ESMA as securitisation repositories. This consultation paper also includes draft Guidelines on the transfer of data between securitisation repositories.
  2. Technical advice to the European Commission on securitisation repository fees: the type of supervisory fees, the matters for which fees are due, the amount of the fees and the manner in which they are to be paid.

Securitisation Regulation

The Securitisation Regulation establishes a general framework for securitisation and creates a specific framework for simple, transparent and standardised (STS) securitisation. As part of these arrangements, the Regulation requires certain information to be reported about securitisations to securitisation repositories, which will be registered and supervised by ESMA.

In addition, the Securitisation Regulation grants ESMA the right to charge fees to securitisation repositories, so as to fully cover its necessary expenditure relating to the registration and supervision of securitisation repositories as well as the reimbursement of any costs that competent authorities incur as a result of any delegation of tasks by ESMA to these authorities. ESMA recently received a request from the European Commission to provide technical advice for these fees.

The consultation is open for feedback until 23rd  May 2018.

Please click on the above link for more information.