regulators’ proposal for stricter securitisation
standards similar to the US could close parts of the private
market, industry participants have warned.
protectionist reforms outlined in the
instrument, proposed by
the Canadian Securities Administrators (CSA) earlier this year,
include enhanced reporting and disclosure standards, and
narrower authorised investor classes.
one of the country’s most significant post-crisis
regulatory proposals, but the barrage of industry feedback
claims the plan is misguided and counterproductive.
planned shake-up would impose onerous requirements on both
registered and private (exempt) securitisation issuers. But
it’s the exempt market that looks to suffer the
"A large majority of private placements of long-term
securitised products are heavily negotiated deals between
sophisticated parties," said Rick...