The Securitisation (Amendment) (EU Exit) Regulations 2019 No. 660

PART 2 Amendment of the Securitisation Regulation

CHAPTER 5 Amendment of Chapter 4 of the Securitisation Regulation (simple, transparent and standardised securitisation)

Article 24 (transaction-level requirements)

22.  In Article 24—

(a) in paragraph 15—

(i) in the fourth subparagraph for “(44) of Article 4(1) of Directive 2014/65/EU other than corporate bonds,” substitute “(24) of Article 2(1) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, other than corporate bonds”;

(ii) after the fourth subparagraph insert—

“In the fourth subparagraph the reference to Regulation (EU) No 575/2013 is a reference to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as it had effect immediately before exit day.”.

(b) in paragraph 21—

(i) in the first subparagraph for the words from “The EBA” to “draft regulatory” substitute “The FCA may make”; and

(ii) omit the second and third subparagraphs.