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Risk Retention in Securitization: Changes to the US Regulations and a Comparison with Europe…

October 2, 2013

Risk Retention in Securitization: Changes to the US Regulations and a Comparison with European Requirements

The recent reproposal of risk retention regulations required by the Dodd-Frank Act includes many changes affecting RMBS, CMBS, ABCP, CLOs and other securitization vehicles. Equivalent but very different European requirements, such as those currently reflected in Article 122a of the EU Capital Requirements Directive, may also be relevant to cross-border sponsors and investors. Complying with both regimes is likely to present some significant challenges. Please join us as we discuss the new US risk retention proposal, compare it with the current European risk retention requirements and explore how the interaction between the two may affect your business. Topics to be discussed will include:

  • How the proposed new regulations would impact sponsors of RMBS, CMBS, ABCP, CLOs and other securitization programs
  • Issues US securitizers will face in trying to satisfy both regulatory regimes when selling abroad
  • Issues European-based financial institutions face when doing securitizations in the United States
  • Dealing with uncertainty as risk retention continues to evolve

Kaye Scholer LLP is certified by the New York State Continuing Legal Education Board as an accredited provider of continuing legal education in the State of New York. Up to 1.5 hours of CLE credit will be awarded in NY (non-transitional), CA and IL.

Hosted By:
Kaye Scholer's Structured Finance & Derivatives Group 

Date:
Wednesday, October 2, 2013

Time:
4:15 pm Registration
4:30 pm Program Begins
6:00 pm Cocktail Reception

Speakers:
Henry G. Morriello, Moderator
Stuart Axford
Janet A. Barbiere
Karsten Giesecke
Daniel J. Hartnett
George M. Williams jr
Derrick Zandpour

Location:
Kaye Scholer
425 Park Avenue, 19th Floor
New York, NY

October 2, 2013