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17 March 2026Publication
UK Securitisation Framework: FCA/PRA proposals
The UK Financial Conduct Authority and Prudential Regulation Authority are consulting on detailed amendments to the UK Securitisation Framework
We advise on the full range of derivatives and structured products, those include
- Structured credit products such as credit derivatives, CLNs, repackagings, CDOs/CLOs and total return swaps
- Structured equity products such as equity derivatives and CFDs, equity- and fund-linked notes, certificates and warrants
- Interest rate, FX and inflation products
- Commodity linked transactions
- ETP platforms
- Islamic derivatives such as murabaha-, wa’ad- and salam-based products and advising on the ISDA/IIFM Tahawwut Master Agreement
- Prime brokerage and intermediation arrangements
- Credit risk mitigation such as credit support, security and other collateralisation arrangements
- Repos and securities lending.
Our transactional teams work closely with our regulatory lawyers who have been at the forefront of the debate around the changing regulatory landscape. In particular, we have been involved in co-ordinating, drafting and presenting market responses on retail structured products, UCITS, AIFMD and ETFs through the Joint Associations Committee comprising ISDA, ICMA and AFME. We are also actively involved on various ICMA, FMLC and FOA committees.
Our experience
Global banks
Working with several global banks, including Banesto, BBVA, RBC and Société Générale in relation to on- and off-balance sheet structured note issuances.
Investment banks
Advising a number of large investment banks and private wealth institutions on questions arising from the practical implementation of the EMIR requirements. This included drafting client communications with respect to reporting obligations, client classifications and timely confirmations.
Dodd-Frank Protocol
Advising a number of entities on the impact and implications of adherence to the ISDA Dodd-Frank Protocol and the related extra-territoriality issues.
Key contacts
If you have any questions, contact a member of the Structured Finance and Derivatives team for assistance:
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