EU and UK regulatory issues—structured products and securitisation

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This overview is a guide to the Banking & Finance content within the EU and UK regulatory issues—structured products and securitisations subtopic, with links to appropriate materials. It considers the principal regulations that govern structured products and securitisation in the EU and UK.

A structured product is a hybrid investment product, which may be more or less complex, containing a combination of two or more disparate elements, for example debt securities and derivatives (swaps, futures and options).

For each element of a structured product, consideration should be given to the regulatory requirements which apply generally to stand alone transactions of that type. In addition, there are regulatory requirements which have specific relevance to structured products.

The principal regulations that have specific relevance to structured products and securitisations in the EU and UK are set out below.

For high level guidance on EU and UK regulation of structured products and securitisation, see Practice Note: EU and UK regulation of structured products and securitisation—one minute guide.

In addition:

  1. •

    for all structured products that involve debt securities, see Practice Note:

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Latest Banking & Finance News

BCBS finalises technical amendment on hedging counterparty credit risk exposures

The Basel Committee on Banking Supervision (BCBS) has finalised a technical amendment (TA) to the Basel Framework concerning the hedging of counterparty credit risk (CCR) exposures. The amendment, first consulted on in November 2024, refines how banks apply guarantees and credit derivatives providing fixed or capped protection to hedge CCR arising from derivative exposures under the standardised approach to counterparty credit risk (SA-CCR) or the internal models method (IMM). The finalised amendment introduces clarifications to the calculation of exposure at default (EAD), treatment of proportionate protection, and application of haircuts for currency and maturity mismatches, aligning the treatment with that of eligible collateral. BCBS members have agreed to implement the revised text as soon as practical and within three years at the latest.

ISDA launches RFQ for AI traceability tool for digital regulatory reporting

The International Swaps and Derivatives Association (ISDA) has launched a request for quote (RFQ) for development of an artificial intelligence-powered traceability tool for its Digital Regulatory Reporting (DRR) solution. The tool is intended to provide enhanced transparency by mapping DRR coding decisions back to regulatory requirements and creating audit trails of the coding process. The AI system will extract information from ISDA working group meeting minutes to explain coding decisions. Proposals are due by 28 November 2025, with a decision expected by 30 January 2026.

LMA publishes amended guidance note on the ROE Regime

The Loan Market Association (LMA) guidance note on the Register of Overseas Entities (ROE) has been amended to reflect changes introduced under the Economic Crime and Corporate Transparency Act 2023 (ECCTA) and subsequent regulations effective in 2024 and 2025. The latest version of the guidance note integrates the new ECCTA provisions and clarifies compliance requirements for overseas entities that own or acquire UK property. The focus is on enhanced ROE transparency, verification, and annual reporting obligations. The LMA has confirmed that existing real estate finance documentation remains broadly compliant, with optional refinements for risk mitigation.

Banking and Finance weekly highlights—30 October 2025

This week's edition of Banking and Finance weekly highlights includes: (1) the LMA publishes amended guidance note on the ROE regime; (2) the MHCLG announces that the Renters' Rights Bill received Royal Assent on 27 October 2025; and (3) ISDA and industry bodies seek delay on EMIR 3.0 third-country CCP reporting requirements.

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