Securitisations and other structured finance transactions -
what is the outlook for the market?

09/23/2010 08:00 a.m. - 10:00 a.m.

Financial Institutions | Europe and Securities Offerings | Europe

Morrison & Foerster
CityPoint
One Ropemaker Street
London   EC2Y 9AW
United Kingdom

Peter J. Green and Jeremy C. Jennings-Mares

Peter J. Green and Jeremy C. Jennings-Mares

Seminar

Lorna O'Neill
loneill@mofo.com
+ 44 20 7920 4007

The financial crisis, triggered by the collapse of the US subprime mortgage market in 2007, has seriously affected the structured finance industry. Many recent securitised deals have had the benefit of governmental support in some form and the industry has yet to show tangible signs of return to normalcy, with investors continuing to prefer safer structures. Some off-balance sheet vehicles, such as SIVs and CDOs of ABS, may never return. Nevertheless, the prevailing view is that securitisation and structured finance will remain vital for both financial institutions and investors. Recent regulatory initiatives have focused, in particular, on increased disclosure and transparency of asset-backed transactions and mandatory retention of risk by their originators. In relation to credit rating agencies, new regulations have sought to address the perceived lack of transparency and inherent conflict of interest in their “issuer pays” business model. The new regulations are likely to lead to an enduring transformation of how securitisations and other structured finance transactions are conducted in the future. We will examine the recent and proposed legal and regulatory developments in the EU and US and their likely impact on future structured finance transactions, as well as recent trends and developments in the market.

Topics Will Include:

  • Changes to the Capital Requirements Directive and other EU regulatory proposals which will impact securitisations
  • Impact of recent and proposed changes to the Basel Capital Accord
  • Relevant aspects of the new US Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
  • IOSCO disclosure principles for public offerings & listings of asset backed securities
  • Practical implications of the new regulations on securitisations and other structured finance transactions
  • The outlook for the market

Speakers:

  • Peter Green, Partner, Morrison & Foerster (UK)
  • Jeremy Jennings-Mares, Partner, Morrison & Foerster (UK)

This seminar is the first in a series. We will update you as we schedule additional events.

CPD and CLE credit is pending for this event.

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