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ARTICLE · 25 OCTOBER 2022

Reporting Revisited: EU Commission Clarifications On Article 7 & Third Country Securitisations

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On Monday 10 October 2022, the European Commission (the "Commission") delivered its report (the "Commission Report") to the European Parliament and the Council on the functioning...

European UnionFinance and Banking
James Warbey
James Warbey
John Goldfinch
John Goldfinch
Claire Bridcut
Claire Bridcut
Martin Brennan
Martin Brennan
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Overview

On Monday 10 October 2022, the European Commission (the "Commission") delivered its report1 (the "Commission Report") to the European Parliament and the Council on the functioning of the EU Securitisation Regulation2. In this Client Alert we examine the Commission Report as it relates to the jurisdictional scope of the EU Securitisation Regulation, and the Commission Report's ramifications for existing and future securitisations and the near-term growth of the CLO market.

We focus on the scope of the obligation to make specific information3 ("EU Transparency Reports") available to institutional investors4 pursuant to Article 7 of the EU Securitisation Regulation ("Article 7") as this applies to securitisations where none of the originator, sponsor or SSPE is established in the European Union ("Third Country Securitisations").

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