Disclosure draft not endorsed

Category: Regulation ABS CLOs

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EC refuses to endorse draft technical standards

The European Commission has stated that it only intends to endorse the draft technical standards on disclosure requirements, under the EU Securitisation Regulation prepared by ESMA, once certain amendments have been made. Market participants have suggested that this was not unexpected and could in fact buy more time for firms to install the necessary systems required to comply with reporting standards, when the Securitisation Regulation comes into effect.

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