Open consultation: CP18/30
12/10/2018
Consultation closed
02/11/2018
Policy Statement
19/12/2018
19/12/2018
PS18/25: EU Securitisation Regulation
This Policy Statement outlines the final and near-final rules that implement the EU Securitisation Regulation and Capital Requirements Regulation (CRR) Amendment. This Policy Statement follows our Consultation Papers CP18/22 (August 2018) and CP18/30 (October 2018) on the changes to our Handbook, to ensure it is consistent with the directly applicable EU Securitisation Regulation and CRR Amendment, as well as the implementing Statutory Instrument (SI 2018/1288).
The Policy Statement contains final and near-final rules. The near final-rules have now been finalised and published in our Handbook, see FCA 2019/1 and FCA 2019/2.
This Policy Statement informs market participants of the following changes to the Handbook:
- Third Party Verifier fees: £1,500 application fee; £250 periodic fee
- Amendments to the IFPRU, COLL and FUND sourcebooks to be consistent with the Securitisation Regulation and the CRR amendment.
- Amendments to the Decision Procedure and Penalties manual (DEPP) and Enforcement Guide (EG) sections of the Handbook
Who this applies to
The Handbook changes will affect:
- entities which may wish to act as Third Party Verifiers (TPVs)
- authorised firms that are involved in securitisation markets either as institutional investors or manufacturers (originator, sponsor and securitisation special purpose entities (SSPEs)) of securitisations
- unauthorised entities (originators, original lenders or SSPEs) participating in securitisation transactions subject to the Securitisation Regulation
- individuals holding offices or positions involving responsibility for taking management decisions at firms involved in securitisation markets