General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
October 12, 2018

FCA proposed changes to ensure that the FCA Handbook is consistent with the directly applicable EU Securitization Regulation and the associated Capital Requirements Regulation (CRR) amendment. The EU Securitization Regulation and the related amendment to CRR came into effect on January 17, 2018 while most of their provisions will come into force on January 01, 2019. The consultation (CP18/30) closes on November 02, 2018.

FCA proposed to amend the Decision Procedures and Penalties Manual (DEPP) and Enforcement Guide (EG) to reflect the changes introduced by the EU Securitization Regulation and by HM Treasury that is intending to lay an implementing Statutory Instrument (SI) before Parliament. These amendments include, but are not limited to, the decision procedure for applications for and withdrawal of authorization of third party verifiers (TPV) and the extension of the enforcement powers to cover unauthorized firms acting as sponsors, originators, or Securitization Special Purpose Entities (SSPEs) in a securitization. This consultation will be of interest to anyone who may be subject to regulation under the EU Securitization Regulation. This includes (but is not limited to) the following entities:

  • Entities that may wish to act as TPVs
  • Firms involved in securitization markets, either as institutional investors or manufacturers (originators, sponsors or SSPEs) of securitizations or as sellers of securitization positions
  • Unauthorized entities (originators, original lenders, or SSPEs) participating in a securitization transaction subject to the EU Securitization Regulation
  • Individuals holding offices or positions involving responsibility for taking management decisions at originators, sponsors, or SSPEs

 

Related Links

Comment Due Date: November 02, 2018

Keywords: Europe, UK, Banking, Securities, Securitization Regulation, CRR, FCA Handbook, FCA

Related Articles
News

EBA Single Rulebook Q&A: Third Update for March 2019

EBA published answers to seven questions under the Single Rulebook question and answer (Q&A) updates for this week.

March 15, 2019 WebPage Regulatory News
News

OCC Updates Recovery Planning Booklet of the Comptroller's Handbook

OCC updated the Recovery Planning booklet of the Comptroller’s Handbook.

March 15, 2019 WebPage Regulatory News
News

EBA Publishes Report on Convergence of Supervisory Practices Across EU

EBA published annual report on the convergence of supervisory practices in EU.

March 14, 2019 WebPage Regulatory News
News

CPMI-IOSCO Publish Update to Level 1 Assessment of PFMI Implementation

CPMI and IOSCO jointly updated the Level 1 Assessment Online Tracker on monitoring of the implementation of the Principles for financial market infrastructures (PFMI).

March 14, 2019 WebPage Regulatory News
News

Agustín Carstens of BIS Speaks About New Role of Central Banks

While speaking at the 20th anniversary conference of the Financial Stability Institute (FSI), Agustín Carstens, the General Manager of BIS, highlighted the need for regulatory actions in light of the continued evolution of financial technology.

March 14, 2019 WebPage Regulatory News
News

PRA Publishes Policy Statement on Group Supervision Under Solvency II

PRA published a policy statement (PS9/19) that provides feedback on responses to the consultation paper CP15/18 and the final supervisory statement SS9/15 (Appendix) on group supervision under Solvency II.

March 14, 2019 WebPage Regulatory News
News

ECB Announces Start Date for Euro Short-Term Rate

ECB announced that it will start publishing the euro short-term rate (€STR) as of October 02, 2019, reflecting the trading activity of October 01, 2019.

March 14, 2019 WebPage Regulatory News
News

PRA Proposes to Update the Pillar 2 Capital Framework for Banks

PRA is proposing (CP5/19) to update the Pillar 2 capital framework to reflect continued refinements and developments in setting the PRA buffer (Pillar 2B).

March 13, 2019 WebPage Regulatory News
News

PRA Publishes Policy Statement Related to Credit Risk Mitigation

PRA published a policy statement (PS8/19) that contains the final policy in the updated supervisory statement SS17/13 on credit risk mitigation (Appendix 1) as well as the statement SS31/15 on Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process or SREP (Appendix 2).

March 13, 2019 WebPage Regulatory News
News

FED Updates Supplemental Information and Q&A for Form FR Y-14

FED updated the supplemental instructions and the questions and answers (Q&A) document for the information collection on capital assessments and stress testing, which is covered by the reporting form FR Y-14A.

March 13, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2750