A CLOser Look At Regulatory Developments: March 2022

INTRODUCTION

There have been several new regulatory developments over the past few months that potentially impact CLO transactions. The Maples Group is proactively monitoring and addressing these regulatory developments to ensure that our clients' CLO transactions are compliant with new requirements. This CLOser Look focuses on the implications of the recent regulatory developments on the CLO market in particular, and provides a gateway to the more general updates that have been issued by the Maples Group.

CAYMAN ISLANDS

EU AML LIST

As highlighted in the October 2021 CLOser Look, the EU Securitisation Regulation was amended on 9 April 2021 to prevent the use of SPVs from countries on the EU AML high-risk third countries list ("EU AML List"). The EU added several countries to the EU AML List, including the Cayman Islands, following the adoption of a Delegated Regulation, which came into force on 13 March 2022. The Maples Group has been proactively developing