Regulation (EU) 2017/2402 of the European Parliament and of the Council
of 12 December 2017
laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 (revoked)
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CHAPTER 1

GENERAL PROVISIONS

Subject matter and scope
Article 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Definitions
Article 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Selling of securitisations to retail clients
Article 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Requirements for SSPEs
Article 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 2

PROVISIONS APPLICABLE TO ALL SECURITISATIONS

Due-diligence requirements for institutional investors
Article 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Risk retention
Article 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transparency requirements for originators, sponsors and SSPEs
Article 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Ban on resecuritisation
Article 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Criteria for credit-granting
Article 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 3

CONDITIONS AND PROCEDURES FOR REGISTRATION OF A SECURITISATION REPOSITORY

Registration of a securitisation repository
Article 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Notification and consultation with competent authorities prior to registration or extension of registration
Article 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Examination of the application
Article 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Publication and notification of decisions
Article 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Withdrawal of registration
Article 13a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Tribunal
Article 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enforcement provisions relating to securitisation repositories
Article 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Supervisory fees
Article 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Availability of data held in a securitisation repository
Article 17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 4

SIMPLE, TRANSPARENT AND STANDARDISED SECURITISATION

Use of the designation ‘simple, transparent and standardised securitisation’
Article 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SECTION 1

Requirements for simple, transparent and standardised non-ABCP securitisation

Simple, transparent and standardised securitisation
Article 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Requirements relating to simplicity
Article 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Requirements relating to standardisation
Article 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Requirements relating to transparency
Article 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SECTION 2

Requirements for simple, transparent and standardised ABCP securitisation

Simple, transparent and standardised ABCP securitisation
Article 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transaction-level requirements
Article 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Sponsor of an ABCP programme
Article 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Programme-level requirements
Article 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SECTION 3

STS notification

STS notification requirements
Article 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Third party verifying STS compliance
Article 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 4A

Designation of country or territory in relation to securitisations

STS equivalent non-UK securitisations
Article 28A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 5

SUPERVISION

Designation of competent authorities
Article 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Powers of the competent authorities
Article 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Macroprudential oversight of the securitisation market
Article 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Administrative sanctions and remedial measures
Article 32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exercise of the power to impose administrative sanctions and remedial measures
Article 33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Criminal sanctions
Article 34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Notification duties
Article 35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Cooperation between competent authorities and the ESAs
Article 36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Publication of administrative sanctions
Article 37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 6

AMENDMENTS

Amendment to Directive 2009/65/EC
Article 38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Amendment to Directive 2009/138/EC
Article 39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Amendment to Regulation (EC) No 1060/2009
Article 40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Amendment to Directive 2011/61/EU
Article 41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Amendment to Regulation (EU) No 648/2012
Article 42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transitional provisions
Article 43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Reports
Article 44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Synthetic securitisations
Article 45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Review
Article 46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exercise of the delegation
Article 47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Entry into force
Article 48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Regulation revoked (14.12.2023 for the revocation of Art. 46, 1.11.2024 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)); S.I. 2023/1382, reg. 2(b)(i); S.I. 2024/891, reg. 2(b) (with further savings and transitional provisions in S.I. 2024/102, regs. 52, 52A, Sch. 3) (as amended (1.11.2024) by S.I. 2024/705, regs. 1(3), 2(10))