# Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 (revoked) EU Regulation 2017/2402 · adopted 12 December 2017 Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 ## Introductory text Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 (revoked) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter 1: GENERAL PROVISIONS ## 1 Subject matter and scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Selling of securitisations to retail clients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Requirements for SSPEs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter 2: PROVISIONS APPLICABLE TO ALL SECURITISATIONS ## 5 Due-diligence requirements for institutional investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 Risk retention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Transparency requirements for originators, sponsors and SSPEs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 Ban on resecuritisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 Criteria for credit-granting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter 3: CONDITIONS AND PROCEDURES FOR REGISTRATION OF A SECURITISATION REPOSITORY ## 10 Registration of a securitisation repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 Notification and consultation with competent authorities prior to registration or extension of registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 Examination of the application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 13 Publication and notification of decisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 13a Withdrawal of registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 Tribunal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 Enforcement provisions relating to securitisation repositories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 Supervisory fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17 Availability of data held in a securitisation repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter 4: SIMPLE, TRANSPARENT AND STANDARDISED SECURITISATION ## 18 Use of the designation ‘simple, transparent and standardised securitisation’ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 1: Requirements for simple, transparent and standardised non-ABCP securitisation ## 19 Simple, transparent and standardised securitisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 20 Requirements relating to simplicity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 21 Requirements relating to standardisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 Requirements relating to transparency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 2: Requirements for simple, transparent and standardised ABCP securitisation ## 23 Simple, transparent and standardised ABCP securitisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24 Transaction-level requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 Sponsor of an ABCP programme . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 26 Programme-level requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 3: STS notification ## 27 STS notification requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 Third party verifying STS compliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter 4A: Designation of country or territory in relation to securitisations ## 28A STS equivalent non-UK securitisations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter 5: SUPERVISION ## 29 Designation of competent authorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 30 Powers of the competent authorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31 Macroprudential oversight of the securitisation market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 32 Administrative sanctions and remedial measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 33 Exercise of the power to impose administrative sanctions and remedial measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34 Criminal sanctions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 35 Notification duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 36 Cooperation between competent authorities and the ESAs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 37 Publication of administrative sanctions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Chapter 6: AMENDMENTS ## 38 Amendment to Directive 2009/65/EC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 39 Amendment to Directive 2009/138/EC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 40 Amendment to Regulation (EC) No 1060/2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 41 Amendment to Directive 2011/61/EU . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 42 Amendment to Regulation (EU) No 648/2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 43 Transitional provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 44 Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45 Synthetic securitisations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 46 Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 47 Exercise of the delegation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 48 Entry into force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/eur/2017/2402 (the official version) Page: https://openlegislation.uk/eu-regulation-2017-2402 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.