As PCS begins to work on its first STS verifications, it is launching its brand new website, containing all the information needed to understand its new services.
PCS will also, of course, continue to offer its PCS Labels, both for true sale and risk transfer deals.
Despite delays in the issuance of key pieces of secondary legislations, PCS is hopeful that it will soon receive authorisation as a third party certification agent under Article 28 of the STS Regulation both in the UK and in France. To this end, the site also contains information regarding our new French operation.
Finally, we invite market stakeholders to read some of the key documents of the STS Verification process. The site contains our new Code of Conduct which has been adapted to account for the new regulatory environment. It contains the three master documents of any STS Verification:
PCS is proud of what it has been able to achieve since 2012 thanks to the help and support of all industry stakeholders (issuers, arrangers, investors and regulatory authorites). Now we look forward to the next seven years and to continuing to support the European securitisation industry as an independent and not-for-profit initiative.