PS18/25: EU Securitisation Regulation

Read PS18/25 (PDF)[3]

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[4] and FCA 2019/2[5]. 

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