United Kingdom: Securitization & Structured Finance

The UK Financial Conduct Authority (FCA) has recently published a consultation paper on the systematic internaliser (SI) framework for bonds and derivatives (CP25/20). CP25/20 also contains a discussion paper...

Once a niche corner of alternative lending, private credit has shown, not only its resilience, but also its ability and willingness to collaborate with various stakeholders.

On 17 June the European Commission published its long-awaited legislative proposals1 for reviving the European securitisation market (the proposals). This is a significant and wide-ranging package of reforms, aimed at reducing undue obstacles to the growth of the EU securitisation market.

The UK's Prudential Regulation Authority proposes changes to the securitisation standardised approach (SEC-SA), allowing firms to elect a formulaic p-factor option for capital calculations. This new SEC-SA option offers flexibility within set p-factor floors and caps. Responses are due by 15 January 2025.

The UK's new regulatory framework for securitisations, effective November 1, 2024, replaces the EU's Securitisation Regulation and includes updated regulations from the FCA and PRA.

The Maples Group offers extensive expertise in the UK RMBS and securitisation markets, supporting clients with issuance platforms, regulatory adaptations, and innovative structures. Their fiduciary services include providing experienced UK resident directors for structured finance vehicles, backed by a global network and a strong track record of managing complex transactions and regulatory demands.

So, following their Jan 19, 2023 meeting (see January 19 Meeting Readout (newyorkfed.org)), the US Alternative Reference Rates Committee (ARRC) has issued a reminder to market participants...

The Edinburgh Reforms to financial services regulation announced by the UK Government on 9 December 2022 include proposals for reform of the UK securitisation framework.

On 10 October 2022, the EU Commission has published a report1 addressed to the European Parliament and Council on the functioning of the EU Securitisation Regulation...