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CLO managers give ESMA requirements a test run
5 years ago
This year has already broken records for the European CLO market, but a new dose of regulatory uncertainty could put that growth at risk -
ESMA strikes European CLO market with new regulatory burdens
5 years ago
The European Securities and Markets Authority yesterday published its final report for the technical standard on disclosure requirements under securitisation regulation, outlining the new reporting requirements for European CLOs coming into effect from 1 January -
Alarm sounds on margin rules as small funds look to make early inroads
5 years ago
A fast-approaching 1 September regulatory deadline for phase three market participants to apply initial margin (IM) to derivatives trades looks set to pass without serious mishap, according to lawyers and the International Swaps and Derivatives Association -
CLO managers see risk retention hurdles as Brexit approaches
5 years ago
Barriers are emerging to UK-based CLO managers seeking risk retention compliance via both the sponsor and the originator route as the country edges closer to Brexit, sources say. -
They said it: My friend (not a fan of the president) said she would erect a statue of Trump if there was any further Volcker rule rollback
5 years ago
A US lawyer tells us that President Donald Trump is gaining admirers in the credit industry. -
Risk retention financing given the green light by EBA
5 years ago
The European Banking Authority published the final draft of its regulatory technical standards for securitisations yesterday -
IHS Markit obtains FCA approval as benchmark administrator under BMR
5 years ago
IHS Markit has been approved by the Financial Conduct Authority as an authorised benchmark administrator under the European Benchmark Regulation (BMR) -
BDCs turn to CLO financing as effective alternative to bilateral leverage agreements
5 years ago
Business development companies now have the ability to take on an extra turn of leverage, but rating constraints mean they could end up using CLOs instead -
Investors debate merits of bond buckets as regulators revisit Volcker rule
5 years ago
CLOs with bond buckets could return in the US as federal agencies have signalled their willingness to roll back certain parts of the Volcker rule -
European-compliant CLOs try to sidestep US risk retention rules
5 years ago
CLOs complying with European risk retention have had to tweak their legal language to avoid coming under US rules, in what has become known as a ‘conditional sales’ approach -
SEC aims to lower barriers to entry with new ETF proposals
5 years ago
The new proposals by the US regulator aim to facilitate greater competition and innovation in the $3.4 trillion ETF industry by lowering barriers to entry -
Unitranche deals set to grow with creation of uniformity
5 years ago
European direct lenders have been given a boost with the Loan Market Association establishing a new precedent unitranche intercreditor agreement to govern the relationship between credit funds and banks -
Federal Reserve seeks comment on proposed Volcker rule changes
5 years ago
Amendments to the Volcker rule took another step forward yesterday after the Federal Reserve Board released a note requesting feedback on proposed changes to the rule -
Past returns: KKR CLO was sign of things to come
5 years ago
Five years ago in Creditflux, we reported on KKR Credit pricing a US CLO that complied with European risk retention rules, in what was believed to be one of the first deals of its kind -
Direct lender endorses PE fund guidelines after bringing in ex-ILPA CEO
5 years ago
Star Mountain Capital has endorsed ILPA’s (Institutional Limited Partners Association) private equity principles in a bid to promote transparency in the private equity fund industry -
Cadwalader's Quirolo: start preparing for the new securitisation rules in Europe (video)
5 years ago
Cadwalader partner David Quirolo spoke to Creditflux's Hugh Minch after his panel at the Creditflux Symposium earlier this month -
US CLO market bids farewell to risk retention as appeals deadline passes
5 years ago
The SEC and the Federal Reserve have not petitioned the US Supreme Court to appeal the ruling exempting CLOs from risk retention, meaning the agencies’ last opportunity to get the ruling repealed has passed -
UK funds brace themselves against value-for-money ruling
5 years ago
The UK’s Financial Conduct Authority (FCA) has published its final set of fund governance rules that aim to strengthen the duty of authorised fund managers to their investors. -
They said it: regulators are using The Big Short as their frame of reference
5 years ago
The LMA’s Nicholas Voisey describes why it’s difficult to campaign for the European loan market -
Not all BDCs will be winners after the borrowing cap is raised
5 years ago
BDCs will soon be able to take on twice as much debt as they were previously permitted, but some BDCs may struggle to take advantage -
CLOs legally freed from US risk retention rules
6 years ago
'Open-market' CLOs were legally freed from US risk retention rules yesterday, although the threat of a Supreme Court appeal remains until May -
Libor has a new contender as New York Fed launches SOFR
6 years ago
The New York Federal Reserve has launched a benchmark US that may eventually replace Libor: the Secured Overnight Financing Rate (SOFR) -
Deadline passes for federal agencies to appeal risk retention ruling
6 years ago
CLOs passed another milestone on the journey away from risk retention as the SEC and Federal Reserve Board did not appeal the court decision by the 45-day deadline -
Good news for BDCs as congress doubles leverage limits
6 years ago
US lawmakers have granted business development companies (BDCs) the ability to borrow more – a move for which the BDC industry has been pushing for years -
SEC's Grim and Crovitz resurface at Washington DC law firm
6 years ago
Two former US Securities and Exchange Commission directors have joined law firm Stradley Ronon
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