UK regulators have published their proposals for the future regulation of securitisation. The Prudential Regulation Authority’s CP15/23 (securitisation: general requirements) is available here, and open for comments until 30 October. Alongside HM Treasury’s associated statutory instrument, the last piece of the jigsaw is the FCA’s consultation paper CP23/17 on the future regulatory framework for securitisations in the UK (available here) includes a discussion on how the line might be drawn between public and private transactions in Chapter 7 (it’s short, but here’s the spoiler: the FCA is proposing an approach that would see Irish GEM-listed CMBS treated as “public”).
If you don’t already have our CMBS network’s 8 September virtual meeting (organised with Maria Green at Allen & Overy) in the diary but would like to be involved, please drop Peter a line.