Cadwalader: Impact of EU Proposed Regulation on Securitization

Cadwalader recently published an article that focused on the jurisdictional and transparency aspects of the latest EU Proposed Regulation on Securitisation.

As reported by SFIG on December 2nd, the Presidency of the Council of the EU (“Council”) published its third compromise proposal on November 30th on the proposed regulation which creates a European framework for simple, transparent and standardized securitization. The Council confirmed on December 8th that this latest proposal is the Council’s agreed negotiating position.

As Cadwalader explains, the draft regulation will now need to be considered by the European Parliament and, once they have developed their proposal, the EU legislative institutions will negotiate a common position. The potential impact on the US includes the following areas: jurisdiction and risk retention, transparency requirements, due diligence requirements for EU institutional investors, and criteria for credit-granting, according to Cadwalader.

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