Since the financial crisis, it has become impossible for anyone active in CRE finance markets to ignore regulation. Our Regulatory Committee is chaired by Clive Bull, Deutsche Bank, and benefits from technical guidance from a group of in-house and private practice lawyers. It seeks to:
- monitor, discuss and, where appropriate, respond to current regulatory developments
- inform the wider CREFC Europe membership about regulatory developments
- build relationships of trust with policymakers and regulators so they increasingly recognise that CREFC Europe is the place to go for informed and thoughtful input and advice. Improving CREFC Europe’s ability to inform the regulatory process more effectively will in turn help regulators achieve their aims with lower risks of unintended consequences in a sector of which their understanding is all too often limited.
Current issues include:
- the potential applicability and impact of risk retention requirements on transactions on the periphery of the regulatory “securitisation” definition
- the development of a number of “high quality” securitisation concepts by international regulators and the potential implications for CMBS
- challenges for international CRE debt fund structures arising from the OECD’s base erosion and profit shifting (BEPS) project and from moves to regulate non-bank financial markets (sometimes referred to as “shadow banking”, other times as “market-based finance”)
- implications for private deals of the disclosure requirements in the Credit Rating Agencies Regulation (CRA3).
Please contact the chair or Peter Cosmetatos on +44 20 3651 5696 or email@example.com if you have questions or would like to get involved.