The European Supervisory Authorities (the “ESAs“) have published an opinion on 25 March 2021 entitled “ESAs’ Opinion to the European Commission on the Jurisdictional Scope of Application of the Securitisation Regulation” (the “Opinion“). The Opinion, which is addressed to the European Commission (the “Commission“), sets out the opinion of the ESAs on the jurisdictional scope of application of the EU Securitisation Regulation and is split into two parts: Part 1, in which it considers the application of Articles 5 to 7 and 9 of the EU Securitisation Regulation to securitisations with third country-based entities, and Part 2, in which it considers the application of the EU Securitisation Regulation’s provisions to investment fund managers. Market participants should note that the Opinion constitutes a set of views and proposals and is not binding.

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For more information about the topics raised in this Legal Update, please contact Merryn Craske on +44 20 3130 3029, Jaime Lad +44 20 3130 3927, Niamh Nic Uileagóid on +44 20 3130 3843 or Mariana Padinha Ribeiro on +44 20 3130 3163.