# The Securitisation (Amendment) (EU Exit) Regulations 2019 (revoked) S.I. 2019/660 · made 25 March 2019 · revised to 29 August 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PDFs: Printed copy https://openlegislation.uk/securitisation-amendment-eu-exit-regulations-2019-revoked/pdf/uksi_20190660_en.pdf; UK Explanatory Memorandum https://openlegislation.uk/securitisation-amendment-eu-exit-regulations-2019-revoked/pdf/uksiem_20190660_en.pdf ## Introductory text Exiting The European Union Financial Services Made 25th March 2019 Coming into force in accordance with regulation 1(2) and (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 1: General ## 1 Citation and commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 2: Amendment of the Securitisation Regulation ### Chapter 1: Introductory provision ## 3 Amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: Amendment of Chapter 1 of the Securitisation Regulation (general provisions) ## 4 Article 2 (definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 Article 3 (selling of securitisations to retail clients) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 Article 4 (requirements for securitisation special purpose entities) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 3: Amendment of Chapter 2 of the Securitisation Regulation (provisions applicable to all securitisations) ## 7 Article 5 (due-diligence requirements for institutional investors) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 Article 6 (risk retention) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 Article 7 (transparency requirements for originators, sponsors and SSPEs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 Article 8 (ban on resecuritisation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 Article 9 (criteria for credit-granting) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 4: Amendment of Chapter 3 of the Securitisation Regulation (conditions and procedures for registration of a securitisation repository) ## 12 Article 10 (registration of a securitisation repository) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 13 Article 11 (notification and consultation with competent authorities prior to registration or extension of registration) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 Article 12 (examination of the application) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 Articles 13 to 15 (notification of ESMA decisions relating to registration or extension of registration, powers of ESMA and withdrawal of registration) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 Article 16 (supervisory fees) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17 Article 17 (availability of data held in a securitisation repository) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 5: Amendment of Chapter 4 of the Securitisation Regulation (simple, transparent and standardised securitisation) ## 18 Article 18 (use of the designation ‘simple, transparent and standardised securitisation’) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 19 Article 19 (simple, transparent and standardised securitisation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 20 Article 20 (requirements relating to simplicity) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 21 Article 23 (simple, transparent and standardised ABCP securitisation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 Article 24 (transaction-level requirements) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 23 Article 25 (sponsor of an ABCP programme) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24 Article 27 (STS notification requirements) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 Article 28 (third party verifying STS compliance) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 6: Amendment of Chapter 5 of the Securitisation Regulation (supervision) ## 26 Article 29 (designation of competent authorities) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 27 Article 30 (powers of the competent authorities) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 Articles 31 to 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 7: Amendment of Chapter 6 of the Securitisation Regulation (amendments) ## 29 Articles 38, 39 and 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 30 Article 43 (transitional provisions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31 Articles 44 and 45 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 32 Article 46 (review) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 33 Article 47 (exercise of the delegation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34 Final provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 3: Amendment of the CRA Regulation ## 35 Article 3 (definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 4: Amendment of the EMIR Regulation ## 36 Article 2 (definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 37 Article 4 (clearing obligation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 38 Article 11 (risk-mitigation techniques for OTC derivative contracts not cleared by a CCP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 5: Amendment of the Capital Requirements Regulation ### Chapter 1: Introductory provision ## 39 Amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: Amendment of Chapter 5 of Title 2 of Part 3 of the Capital Requirements Regulation ## 40 Chapter 5 (securitisation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 41 References to the competent authorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 42 Article 242 (definitions for Chapter 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 43 Article 244 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 44 Article 245 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45 Article 248 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 46 Article 250 (implicit support) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 47 Article 254 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 48 Article 255 (determination of KIRB and KSA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 49 Article 257 (determination of tranche maturity (MT)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 50 Article 270 (senior positions in SME securitisations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 51 Article 270a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 52 Article 270e (securitisation mapping) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 3: Amendment of other Articles of the Capital Requirements Regulation ## 53 Article 337 (own funds requirement for securitisation instruments) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 54 Article 519a (reporting and review) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 6: Amendment of the Liquidity Commission Delegated Regulation ## 55 Article 13 of the Liquidity Commission Delegated Regulation (level 2B securitisations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 7: Amendment of the CRR amending regulation ## 56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 8: Amendment of subordinate legislation ## 57 The Financial Services and Markets Act (Regulated Activities) Order 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 58 Amendment of the Securitisation Regulations 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Explanatory note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/uksi/2019/660 (the official version) Page: https://openlegislation.uk/securitisation-amendment-eu-exit-regulations-2019-revoked Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.