Private Securitisations: ESMA Proposes Streamlined Disclosure Template

ESMA has published its planned consultation on targeted changes to the disclosure framework for private securitisations under the EU Securitisation Regulation.

Its earlier December 2023 Consultation Paper on the Securitisation Disclosure Templates sought stakeholder views on four possible options:

• Option A: Postpone the review of the disclosure templates until the next review of the EU Securitisation Regulation.
• Option B: Introduce a limited number of refinements to the current framework to enhance disclosure.
• Option C: Introduce a simplified template for private securitisation and undertake a targeted revision of the templates, aimed at streamlining disclosure.
• Option D: Undertake a complete and thorough review of the reporting framework aimed at a substantial simplification of disclosure requirements.