Quick Look Brexit Financial Services Legislation Status Guide—Securitisation Regulation
Quick Look Brexit Financial Services Legislation Status Guide—Securitisation Regulation

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Quick Look Brexit Financial Services Legislation Status Guide—Securitisation Regulation
  • Onshored Securitisation Regulation—from 1 January 2021
  • Securitisation Regulation level 2 measures which apply from dates falling in the implementation period and are included in EU retained law (subject to modification by SIs)
  • Securitisation Regulation level 2 measures which did not take effect during the implementation period and are not included in EU retained law

This Quick Look Brexit Financial Services Legislation Status Guide provides high level information on the status of Regulation (EU) 2017/2402 (OJ L 347/35) (EU Securitisation Regulation) under UK law from 1 January 2021. For more detailed information, see Practice Note: Impact of Brexit: Securitisation Regulation—quick guide.

During the implementation period beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day), the EU Securitisation Regulation was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), and the Withdrawal Agreement between the UK and the EU.

With effect from 1 January 2021:

  1. the EU Securitisation Regulation and the EU Securitisation Regulation level 2 measures, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, will form part of EU retained law and accordingly apply in the UK—see: Onshored Securitisation Regulation—from 1 January 2021 and Retained Regulation (EU) 2017/2402 (UK Securitisation Regulation)

  2. EU Securitisation Regulation level 2 measures which apply from dates falling in the implementation period are included in the provisions of the EU Securitisation Regulation forming part of EU retained law (subject to modification by SIs)—for ease of reference these are listed in: Securitisation Regulation level 2 measures which apply from dates falling in the implementation period and

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