SIFMA Submits Comments to ESMA on Draft RTS on Information for Structured Finance Instruments

SIFMA submitted comments to the European Securities Markets Authority ("ESMA") on the consultation paper on CRA3 implementation - draft regulatory technical standards ("RTS") for information on structured finance instruments ("SFIs"). In the letter, SIFMA expressed support for the comments submitted by the Association for Financial Markets in Europe ("AFME") and, in particular, their concerns regarding the potential for the extra-territorial application of standards implemented under this rule and conflicts of law or regulation that may arise. SIFMA raised further concerns over the final RTS, which its members believe may not comport with, or may directly conflict with, the obligations of entities under current U.S. securities regulations, namely Regulation AB.

See: SIFMA Comment Letter.