Articles by author
Brexit and securitisation: the rubber hits the road
The UK formally left the EU on 31 January 2020, but the Brexit implementation period delayed most of the practical effects of that until after 31 December 2020 (IP completion day). Three months into the new regime, we examine how securitisation markets are changing in response to this new reality, offer solutions to some of the issues that have come up and identify key areas where market practice has yet to settle.
1 MAR 2021Brexit update: implications for securitisations
The uncertainties of Brexit persist despite the UK’s formal withdrawal from the EU in January 2020. Market participants need to continue with their preparations and their engagement with regulators. Regulators and politicians will ultimately determine how the creation of a dual regulatory regime across the EU and the UK will impact the securitisation markets beyond 2020.
1 JAN 2021The new NPL Directive: an uncertain path ahead
Almost four years ago – in March 2018 – the European Commission proposed a directive intended to promote the growth of the secondary market in non-performing loans (NPLs). This was part of a broader plan to help reduce the burden of NPLs on European bank balance sheets. After a long and winding legislative road, the European Parliament approved the final version of the Directive on 19 October 2021. The same text was approved by the Council on 9 November 2021 and is likely to be published in the Official Journal of the EU in the coming months. In this article we set out some of the features of the new Directive and areas of likely market concern (and especially for the securitisation market) arising out of it.
1 DEC 2021The EU’s AML blacklist and SSPEs
Although still in the “scrutiny” period at the time of writing, EU legislation to add the Cayman Islands (and other jurisdictions) to its list of high risk third countries for anti-money laundering and counter terrorist financing is giving pause for thought and is likely to come into effect shortly after the time of publication. There are potential implications for financial transactions – especially securitisations using Cayman Island SPVs.
1 FEB 2022
