ESMA consults on possible changes to the securitisation disclosure templates
21/12/2023
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation on the revision of the Disclosure Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS). These standards relate to the specific information and details of securitisation transactions that should be made available.
The objective of this consultation is to gather stakeholders’ views on four proposed options for the revision of the securitisation disclosure framework:
- Putting the template review on hold until revision of the L1 text;
- Expanding the current framework with the introduction of few amendments to the currently used disclosure templates;
- Focusing on a targeted review for streamlining the information required and developing a new dedicated and simplified template for private securitisations only; or
- Undertaking a thorough review of the current disclosure framework proposing a significant simplification of the templates.
Next steps
The public consultation runs until 15 March 2024. ESMA will consider the feedback received as input to its subsequent work on this topic.