Letter to the Joint Committee of the ESAs - Securitisation Regulation - Request for Guidance on Article 5(1)(e)

 

9 December 2022 The promotion of well-functioning cross-border debt securities markets, without unnecessary fragmentation, is at the heart of ICMA’s mission and a priority for ICMA’s members. This includes a healthy, efficient international securitisation market promoting global diversification and financial stability. For this reason, ICMA is supportive of the AFME request for relief in connection with the Report from The Commission to the European Parliament and the Council on the functioning of the Securitisation Regulation dated 10 October 2022 (the "SECR Report"). The Commission’s interpretation of Article 5(1)(e) has potential adverse consequences for EU investor choice and diversification of risk and flows of capital in global markets. Therefore, ICMA supports this AFME request for guidance to National Competent Authorities to use their enforcement powers in a proportionate and risk-based manner.

Letter to the Joint Committee of the ESAs - Securitisation Regulation - Request for Guidance on Article 5(1)(e)


ICMA Zurich
T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich

ICMA London
T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris
T: +33 1 70 17 64 71
62 rue la Boétie
75008 Paris

ICMA Brussels
T: +32 2 801 13 88
Avenue des Arts 56
1000 Brussels
ICMA Hong Kong
T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong
info@icmagroup.org (general enquiries)
education@icmagroup.org (education enquiries)
greenbonds@icmagroup.org (sustainable finance)
Copyright © 2023 International Capital Market Association.