UK Regulators Set Reporting Rules For Securitizations

Law360, London (January 31, 2019, 4:39 PM GMT) -- The Prudential Regulation Authority and the Financial Conduct Authority on Thursday finalized how City firms dabbling in private securitizations must report to regulators, integrating new European Union rules that give the regulators heightened oversight over companies. 

The watchdogs published final rules directing firms trading in so-called "private securitizations" — or the financing generated from packaging and reselling groups of illiquid securities, such as mortgages and debts — on where, when, how often and in what detail they must update regulators. 

The reporting requirements impact so-called originators and sponsors and other entities covered by the EU's Securitization Regulation of 2017, and which came into...

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