Jurisdiction(s):
European Union

EU Securitisation Regulation: STS (traditional and synthetic), risk retention, investor due diligence, transparency, RTS/ITS and guidelines, repositories, and 2025 reform proposals

Published by a LexisNexis EU Law expert

Practice notes

STOP PRESS: On 17 June 2025, the European Commission adopted a package of measures proposing amendments to the EU securitisation regime. Headline elements comprise a lighter due diligence and risk analysis duty for institutional investors in EU securitisations, a shift towards a principles-based approach for securitisations overall, and a lower risk retention requirement for sell-side entities in certain securitisation types. The Commission’s proposals are presently being reviewed by the European Parliament and the Council. There is no fixed timetable for this process, though it is expected to take at least 18–24 months.

EU Securitisation Regulation and related legislation—background and purpose

In September 2015, the Commission issued the Action Plan on Building a Capital Markets Union. The plan set out a broad suite of measures designed to create integrated capital markets across the EU’s Member States—a Capital Markets Union or CMU—to encourage investment and drive growth. The CMU Action Plan stated that, following the crisis, EU securitisation markets remained significantly impaired, harmed by concerns about the securitisation process and the risks involved. Although these weaknesses were seen most clearly in securitisations based on US sub-prime loans, the regulatory reform response that followed was applied to all securitisations. There is no...

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Web page updated on 21/05/2026

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