argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - STS securitisation - STS status

Since the end of the Brexit transition period approaches, the European entities concerned with the financial markets are at work to specify and study the future possible applicable disposition concerning financial tools for all European countries in relation to what concerns the different titles. For instance, on November 25^th, 2020, the Joint Committee of the European Supervisory Authorities (ESAs), ESMA, EBA and EIOPA, underlined the changes that would occur after the end of the Brexit transition period to the status of Simple, Transparent and Standardised’ (STS) securitisation transactions. Specifically, the Joint Committee focused on the requisites that a securitisation transaction has to express in order to be an STS securitisation; according to the related Regulation the originator, the sponsor and the vehicle of the securitisation have to be in the European Union; as a consequence, there could be no awarding of the STS securitisation status, nor it can persist, in the event that either the originator, the sponsor or the vehicle are in the UK and, consequently, cease to be established in the Union. ESMA is working with national competent authorities to ensure that ESMA’s STS securitisation public register is up to date on 1 January 2021.