The European Securities and Markets Authority (ESMA), the body that regulates and supervises financial markets in the European Union, has launched a public consultation regarding the revision of the Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS).
These standards establish the ways in which specific information must be disclosed in securitization transactions, a crucial sector for managing and distributing financial risks.
ESMA has initiated this consultation with the aim of gathering feedback from market participants and entities involved, exploring four different options for updating the regulations on the information to be provided in securitizations.
The authority aims for a comprehensive revision of the current regulatory framework, introducing targeted changes to the existing reporting models. A key objective is to simplify the required data and create a new information system, designed particularly for private securitizations, which would be more streamlined and accessible.
The consultation will conclude on March 15, 2024, by which date all responses must be submitted. The results will be used to guide future regulatory changes in this area.
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