As a consequence of the UK leaving the European Union, the shaping of the regulatory landscape for finance, including securitisation, became the responsibility of the British government and British regulatory institutions. Following the publication of HM Treasury's near final statutory instrument modifying the European Securitisation Regulation and the UK PRA's consultation on its proposed changes, it is now the turn of the UK FCA to issue its own consultation on changes it would like to see to the existing rules inherited from the EU.
A quick glance at the just issued document appears to show at attempt at fixing some technical issues and clarifying others rather than any wholesale changes to the structure of the current regulatory architecture: investor due diligence, private vs public deals, retention rules (especially around NPLs), homogeneity and resecuritisations come up.
The consultation runs until October 30th.
Created by Proformat
