The Financial Conduct Authority is introducing a series of amendments to its proposed UK’s securitisation rules in response to feedback from the financial sector.
After publishing its initial briefing last August, the regulator said it now considers it "appropriate to make some amendments to the policy proposals we consulted on", after receiving 12 responses to the first draft. The changes include clarifications to the due diligence and transparency requirements, with an adjustment to the former for secondary market investors, specifically in relation to disclosures made by manufacturers. It also said there was now "no need for risk retention" in relation to securitisations of firm's own liabilities, such as own issued covered bonds. The FCA...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
