In the past ALFI also responded to the EU Commission consultation on the functioning of the EU Securitisation Regulation (“SECR”). The SECR aimed at laying down rules for securitisations and developing a simple, transparent and standardised securitisation market. These objectives have not or have only partially been achieved.  

The main concerns that ALFI has highlighted are the impact of the SECR in terms of triggering material additional human and financial costs without any obvious added-value, especially as far as institutional investors are concerned.

Moreover, the SECR has generated adverse effects, including disadvantaging EU institutional investors when wanting to invest, among others, in third country securitisations. ALFI would hence welcome the objective of improving the competitiveness of the European financial industry be part of the review of the securitisation framework.

View the ALFI response.