PCS has filed its response to ESMA's consultation on disclosure requirements. Our views are that the current disclosure templates are overly prescriptive, contain many unnecessary requirements and have become a deterrent to potential originators. This constricts a European securitisation market that is ever more necessary to the future of the continent. Even if one does not want to wade through the more than twenty pages of our response, containing a number of fairly technical points, we would invite stakeholders to peruse our general considerations on the subject set out in the first few pages.
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