Modernizing UCITS Limits to Strengthen European Securitisation Markets: SFA Policy Position

The Structured Finance Association urges policymakers to modernize the UCITS framework by removing or significantly raising the outdated 10% issuer limit for securitisations, a restriction that constrains UCITS investor participation in this safe, liquid, and well‑regulated asset class. This paper explains why a broader, more flexible limit that is applicable to both public and private securitisations would strengthen market liquidity, expand investor diversity, and better support the EU’s goals for deepening capital markets and financing the real economy.