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ESMA confirms Securitisation Regulation requirements entry into force on 23 September 2020

04 September 2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, confirms that the different elements of the new regime under the Securitisation Regulation will come into force on 23 September 2020.

This follows the publication of seven technical standards implementing the Securitisation Regulation in the Official Journal of the European Union. The publication of the technical standards triggers  

-        Opening of applications for entities to register as Securitisation Repository (SR); and

-        Entry into force of new disclosure templates

Opening of applications for entities to register as SR

SRs centrally collect and maintain the records of securitisations and will be registered and supervised by ESMA. Those entities who wish to be registered as a SR by ESMA can submit their applications from 23 September 2020.

Until ESMA has registered at least one SR, information that should be made available by reporting entities to SRs on public securitisations must be made make it available via a website which meets certain requirements.

New disclosure templates

ESMA has developed a set of securitisation disclosure templates to improve and standardise the information made available to investors, potential investors and competent authorities.  These disclosure templates will enter into force on 23 September 2020 and must as of that date be used to make any new information available about a securitisation in accordance with Article 7 of the Securitisation Regulation.

ESMA has published guidance on how to fill in the disclosure templates in its Q&A Document on Securitisation Topics. Stakeholders with questions which are not addressed in this document are invited to submit their question(s) to ESMA through its dedicated Q&A tool. XML schema and validation rules as well as reporting instructions for these templates are available on ESMA’s website.

Next Steps

For additional information about the securitisation Regulation, please visit the dedicated page on ESMA’s website