PS18/25: EU Securitisation Regulation

Open consultation: CP18/30
12/10/2018
Consultation closed
02/11/2018
Policy Statement
19/12/2018
19/12/2018

This Policy Statement outlines the final and near-final rules that implement the EU Securitisation Regulation and Capital Requirements Regulation (CRR) Amendment. This Policy Statement follows our Consultation Papers CP18/22 (August 2018)[1] and CP18/30 (October 2018)[2] on the changes to our Handbook, to ensure it is consistent with the directly applicable EU Securitisation Regulation and ​​​​​​CRR Amendment, as well as the implementing Statutory Instrument (SI 2018/1288).

Read PS18/25 (PDF)[3]

The Policy Statement contains final and near-final rules. The near final-rules have now been finalised and published in our Handbook, see FCA 2019/1[4] and FCA 2019/2[5]. 

This Policy Statement informs market participants of the following changes to the Handbook:

  • Third Party Verifier fees: £1,500 application fee; £250 periodic fee
  • Amendments to the IFPRU, COLL and FUND sourcebooks to be consistent with the Securitisation Regulation and the CRR amendment.
  • Amendments to the Decision Procedure and Penalties manual (DEPP) and Enforcement Guide (EG) sections of the Handbook

Who this applies to

The Handbook changes will affect:

  • entities which may wish to act as Third Party Verifiers (TPVs)
  • authorised firms that are involved in securitisation markets either as institutional investors or manufacturers (originator, sponsor and securitisation special purpose entities (SSPEs)) of securitisations
  • unauthorised entities (originators, original lenders or SSPEs) participating in securitisation transactions subject to the Securitisation Regulation
  • individuals holding offices or positions involving responsibility for taking management decisions at firms involved in securitisation markets
First published: Last updated: 09/01/2019

More on securitisation

CP19/1: Recovering the costs of regulating securitisation repositories after the UK leaves the European Union[6]
CP18/30: EU Securitisation Regulation Implementation (DEPP and EG)[2]
CP18/22: TPVs information and Consultation Paper[7]
Securitisation: updated legislation for 1 January 2019[8]

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Source URL: https://www.fca.org.uk/publications/policy-statements/ps18-25-eu-securitisation-regulation

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