The European Securities and Markets Authority (ESMA) will hold an open hearing on the following consultation papers:
1. The application requirements for firms seeking to register with ESMA as securitisation repositories (including draft Guidelines on the transfer of data between securitisation repositories).
2. Technical advice to the European Commission on securitisation repository fees: the type of supervisory fees, the matters for which fees are due, the amount of the fees and the manner in which they are to be paid.
The Securitisation Regulation establishes a general framework for securitisation and creates a specific framework for simple, transparent and standardised (STS) securitisation. As part of these arrangements, the Regulation requires certain information to be reported about securitisations to securitisation repositories, which will be registered and supervised by ESMA. In addition, the Securitisation Regulation grants ESMA the right to charge fees to securitisation repositories and ESMA recently received a request from the European Commission to provide technical advice for these fees.
Written responses to the two consultation papers can be submitted until 23 May 2018.
This open hearing will be of interest to securitisation repositories which plan to apply for registration, extension of registration or recognition under the Securitisation Regulation, the already registered trade repositories under EMIR, as well as of interest to trade associations, securitisation reporting entities, investors/potential investors, as well as public bodies involved in securitisations (market regulators, resolution authorities, supervisory authorities, and standard setters).
The hearing will take place on Friday 13 April 2018 from 10:00 to 12:00 at ESMA’s premises.
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