The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation on revising the disclosure framework for private securitisations under the Securitisation Regulation (SECR).
The consultation proposes a simplified disclosure template for private securitisations designed to improve proportionality in information-sharing processes while ensuring that supervisory authorities retain access to the essential data for effective oversight. The new template introduces aggregate-level reporting and streamlined requirements for transaction-specific data, reflecting the operational realities of private securitisations.
The proposal of the simplified template follows ESMA’s previous consultation, where industry stakeholders called for short-term solutions to address key challenges and advocated for a simplified template for private securitisations. A summary of these responses was published in the December 2024 Feedback Statement.
It also adds to the recently announced ESMA initiative on simplification and burden reduction actions, while preserving the main objectives of financial stability, orderly markets and investor protection.
