Consob provisions regarding securitisations adopted

Summary:

The Italian Commission has adopted the implementation decrees of article 4-septies.2 of the TUF, which regulates the notification of securitization operations to Consob and the organizational requirements applicable to the parties involved. The decrees aim to discipline the notification procedures and requirements for securitization operators, while also specifying the methods for transmitting the authorization requests to Consob. The regulations are based on the EU regulation 2017/2402 and the subsequent amendments, which introduced a uniform framework for simple, transparent, and standardized securitization (STS) derivatives applicable from January 1, 2019. The decrees also outline the requirements forSTS securitization operators and define the timeline and methods for fulfilling the information obligations.