Clifford Chance

EU Publishes Review of Securitisation Regulation

11 October 2022

Yesterday, the European Commission published its long-awaited review report on the functioning of the EU Securitisation Regulation (the "EUSR").

The report generally concludes that the EUSR is fit for purpose and does not put forward any proposals to amend the EUSR itself (the so-called "level 1 text"). It does, however, set out a number of suggestions to improve how the Regulation functions (especially around disclosure templates) and contains some important guidance on how certain problematic provisions of the EUSR should be interpreted (including Article 5(1)(e), that dictates what information EU institutional investors need to invest in non-EU securitisations). We set out a summary below.

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