On 4 September 2020 the European Securities and Markets Authority (ESMA - the EU’s securities markets regulator) confirmed that the various elements of the new regime under the Securitisation Regulation will come into force on 23 September 2020. This has followed the publication of seven technical standards implementing the Securitisation Regulation in the Official Journal of the European Union. The publication of the technical standards triggers (i) opening of applications for entities to register as Securitisation Repository; and (ii) new disclosure templates.
Securitisation Repositories centrally collect and maintain the records of securitisations and will be registered and supervised by ESMA. Those entities who wish to be registered as a Securitisation Repository by ESMA can submit their applications from 23 September 2020.
ESMA has developed a set of securitisation disclosure templates to improve and standardise the information made available to investors, potential investors and competent authorities. These disclosure templates will enter into force on 23 September 2020 and must be used to make any new information available about a securitisation in accordance with Article 7 of the Securitisation Regulation.