Regulatory & International Trade | RIT
Helping Businesses Clear Regulatory Hurdles in Europe
Regulatory & International Trade | RIT
Regulatory & International Trade | RIT
Helping Businesses Clear Regulatory Hurdles in Europe
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Proposals For Relaxation of EU Securitization Framework

Vlad Maly and Michal Chajdukowski present the key takeaways from a package of amendments to the existing EU securitization framework, published by the European Commission on June 17, 2025.

The proposals aim at incentivizing EU banks to engage in more securitization activity. The goal is to strengthen the banks’ lending capacity, which is needed to finance strategic EU priorities, including in the defense sector. Among other things, the Commission proposes to simplify due diligence and transparency requirements, introduce greater risk sensitivity, and address the perceived overcapitalization requirements that apply to investments in certain securitization exposures.

While the impact of these measures on reviving the EU securitization markets remains uncertain (even in the eyes of EU financial authorities), the European Commission is not stopping there, announcing additional measures designed to incentivize insurers and certain retail funds to invest in securitization transactions, that are expected to be published in the coming weeks.

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Quarterly Sanctions Update | Q4 2024 / Q1 2025

What’s New? The European Union and the United Kingdom remain committed “to keep up the pressure on the Kremlin” by way of imposing further sanctions as Russia’s illegal invasion of Ukraine enters the fourth year. Within a course of the last three months, the EU adopted two new sanctions packages, with new restrictions ranging from asset freezes imposed on over a hundred of individuals, companies and vessels to banning imports of aluminum originating in Russia. The United Kingdom followed the European Union’s suit, imposing new sanctions as recently as February 24, 2025.

US Policy Changes. Stay ahead of US law and policy changes, including shifting restrictive trade measures under the current administration, with our dedicated resource center available here.

Clarifying the Rules. The European Commission issued a series of long-awaited clarifications on the ‘best efforts’ and ‘no re-export to Russia’ clause requirements. The UK Office of Trade Sanctions Implementation (OTSI) also provided new guidance on ‘no Russia’ clauses, highlighting their role in due diligence best practices.

Expanding Sanctions Reporting. In the United Kingdom, a new group of companies, including insolvency practitioners, letting agents and art market participants, now fall under the reporting requirements relating to Russia sanctions.

Easing Pressure on Syria. The [...]

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New UK Securitisation Framework | Regulators Publish Final Rules

On 30 April 2024, the FCA and the PRA published their respective policy statements (PS24/4 [1] by the FCA and PS7/24[2] by the PRA) in response to feedback received on their proposed draft rules on securitisations, which were presented in 2023 (CP23/17[3] and CP15/23[4]).

The new UK securitisation framework seeks to repeal and replace retained EU law in the UK, as part of the wider post-Brexit programme. Market participants will now need to read the FCA and PRA rules together with the Securitisation Regulations 2024[5] (as amended[6]), as these will comprise the new UK securitisation framework. Although the framework is new, the rules share many similarities with those of the EU Securitisation Regulation (2017/2402/EU) as currently adopted in the UK.

Changes will take effect from 1 November 2024, giving participants a six-month implementation period.

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