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ESAs’ Opinion to the European Commission on the Jurisdictional Scope of Application of the EU Securitisation Regulation

Mayer Brown
15/04/2021

 The European Supervisory Authorities1 (the “ESAs”) have published an opinion on 25 March 2021 entitled “ESAs’ Opinion to the European Commission on the Jurisdictional Scope of Application of the Securitisation Regulation2 (the “Opinion”). The Opinion, which is addressed to the European Commission (the “Commission”), sets out the opinion of the ESAs on the jurisdictional scope of application of the EU Securitisation Regulation3 and is split into two parts: Part 1, in which it considers the application of Articles 5 to 7 and 9 of the EU Securitisation Regulation to securitisations with third country-based entities, and Part 2, in which it considers the application of the EU Securitisation Regulation’s provisions to investment fund managers. Market participants should note that the Opinion constitutes a set of views and proposals and is not binding.  All references to an “Article” in this legal update are to an Article of the EU Securitisation Regulation and references to entities being in a third country means entities which are not established in the European Union (the “EU”).

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