Results 1-7 of 7
11 February 2019
The European Union (EU) Securitization Regulation (the "Securitization Regulation"), which replaces previously sectoral securitization rules and provides a harmonized regime, took effect on January 1, 2019. Unlike the US securitization rules, EU law continues...
Treasury Issues Report Regarding Nonbank Financials, Fintech, and Innovation – Residential Mortgage Lending
11 August 2018
The U.S. Department of the Treasury (the "Treasury") has released a fourth report in a series of reports produced in response to Executive Order 13772, which sets out the Administration's seven core principles for regulating the U.S. financial system...
US Court of Appeals Ruling Calls for Elimination of Risk Retention Obligations for Open-Market CLO Managers
24 February 2018
The US Court of Appeals for the District of Columbia ruled in favor of The Loan Syndications and Trading Association on February 9, 2018 in a case that challenged the application of credit risk retention requirements to certain CLO managers. Specifically, the court...
9 February 2018
On February 9, 2018, the US Court of Appeals for the District of Columbia ruled in favor of The Loan Syndications and Trading Association in the case of The Loan Syndications and Trading Association v. Securities and Exchange Commission and Board of Governors...
2 August 2017
Although a bedrock of the financial markets for over 30 years, LIBOR has been under pressure ever since the Wheatley Review, and a speech given by Andrew Bailey, Chief Executive of the UK's Financial Conduct Authority on July 27th heralds its potential demise....
White Paper: Applicability of U.S. Risk Retention Rules to Structured Aircraft Portfolio Transactions
15 February 2017
Clifford Chance partners Zarrar Sehgal, Gareth Old and Lee Askenazi, together with lawyers from four other U.S. law firms, have published this White Paper on the application of the U.S. credit risk retention rules to a typical issuance of securities by a newly...
U.S. Person Restrictions in the U.S. Risk Retention Regulation Foreign Transaction Safe Harbor raise practical problems for non-U.S. securitizations
10 February 2017
With effect from December 24, 2016, the sponsor of a securitization transaction is required to comply with the U.S. credit risk retention requirements set out in Section 15G of the Securities Exchange Act of 1934, as amended and the related implementing regulations...