The UK Financial Conduct Authority (FCA) announces that it has completed its assessment of applications received from European DataWarehouse Ltd and SecRep Limited as Securitisation Repositories (SRs) under the UK Securitisation Regulation. The regulator has decided to register both entities with effect from 17 January 2022.
The obligation to report public securitisations within the scope of the UK Securitisation Regulation to a SR that is registered and supervised by us will apply from 17 January 2022.
The FCA continues to encourage reporting entities to complete all necessary preparatory measures to comply with their reporting obligations to a SR. Firms registered as UK SRs will be included on the Financial Services Register.
As FX News Group has reported, in November 2021, the FCA said it had reached the examination stage in the assessment process of applications received from Securitisation Repositories (SRs) under the UK Securitisation Regulation.
The obligation to report public securitisations within the scope of the UK Securitisation Regulation to an SR that is registered and supervised by the FCA will apply as soon as one SR is registered. The regulator says it will inform market participants when the registration of the first SR(s) is completed.
The FCA has 40 working days in which to examine the application for registration and, if favourable, the entity will be registered as an SR.