7.15.19
On Monday, July 15th, SFA submitted a letter to European regulators requesting guidance regarding investor due diligence requirements under the new EU Securitization Regulations. Specifically, SFA is seeking clarity on whether an institutional investor, prior to holding a securitization position in a non-EU securitization, would need to verify compliance with certain transparency requirements set out in the new rules. The letter explains that various legal interpretations have arisen regarding this question, creating market uncertainty. The letter also lays out, for the European regulators, the types of disclosures provided in US securitization asset classes.