Onshoring the EU Securitisation Regulation – How will it apply in the UK in the event of a no-deal Brexit?

The EU Securitisation Regulation became applicable in the UK from 1 January 2019 to all securitisations, other than securitisations existing prior to that date to the extent that they are grandfathered.

With the UK currently scheduled to leave the EU on 31 October 2019, contingency plans are ongoing to provide for the possibility that a negotiated deal will not be reached with the EU (a “no-deal Brexit”). In particular, significant efforts are being made to convert the existing body of EU legislation into UK law and ensure that the resulting UK legislation is effective and functional, in a process known as “onshoring”.

This Legal Update considers how the EU Securitisation Regulation will apply in the UK as a result of the onshoring process, in the event of a no-deal Brexit.