Market updates and sector developments

The European Securities and Markets Authority (ESMA) has launched a consultation on revisions to the securitisation disclosure framework. The process is due to run until 15 March and aims to collect stakeholders’ views on proposed changes to the disclosure regulatory technical standards (RTS) and implementing technical standards (ITS).

In particular the consultation will focus on the four proposed options. These include “putting the template review on hold until revision of the L1 text”; the expansion of the current framework “with the introduction of few amendments to the currently used disclosure templates”; a targeted review for “streamlining the information required and developing a new dedicated and simplified template for private securitisations only”; and “a thorough review of the current disclosure framework proposing a significant simplification of the templates”.

The development comes days after the European Commission released a Commission Delegated Regulation supplementing the Securitisation Regulation with regard to RTS specifying performance-related triggers and the criteria for the calibration of those triggers in STS synthetic securitisations.

In other news…

Tikehau to form partnership with Nikko
Tikehau Capital has entered talks to form a partnership with Nikko Asset Management that will lead to a joint venture focusing on Asian private markets. The proposed partnership will see the Japanese asset manager taking an equity stake in Tikehau, while the French alternative assets investment manager says the deal will deepen its presence in the Asian market.