Latham & Watkins
Authors
Articles by company
EU proposed securitisation disclosure reforms: is the remedy worse than the affliction?
At first glance, proposed reforms to the EU’s securitisation reporting regime such as a new template for private securitisations seem to offer a welcome simplification. However, under closer scrutiny, recommendations by the European Supervisory Authorities and the Commission’s proposed changes are more likely to offer administrative headaches than benefits. In this In Practice article, the authors look at what sell-side entities would need to consider if the reforms were to go ahead as proposed.
9 JUN 2025Key hedging considerations in negotiating intercreditor terms
In this In Practice article, the authors outline the benefits of negotiating flexible hedging terms in financing arrangements and demonstrate how certain key considerations can impact the ability of sponsors/borrowers to effectively implement their hedging strategies.
6 FEB 2025The final piece of the G20 netting puzzle
In this In Practice article the authors consider the possible implications of draft close-out netting legislation in the Kingdom of Saudi Arabia on derivatives, repurchase and stock lending transactions with Saudi counterparties.
24 OCT 2024Impact of the Corporate Governance and Insolvency Act 2020 on securitisation transactions
In this In Practice article, the author discusses the key implications of the Corporate Governance and Insolvency Act 2020 (CIGA) for securitisation transactions.
1 JAN 2021SPAC -linked margin loans
The recent increase in the use of special purpose acquisition companies (SPACs) has been generating much discussion in the press, the finance industry and among lawyers and regulators. The trend began in the US and is spreading across the globe, with securities exchanges in a number of jurisdictions competing to position themselves as an alternative listing venue of choice for SPACs. In this In Practice article, the authors consider their structure and risk profile and whether the securities that they issue have the potential to be a new asset class for margin lenders.
1 JUN 2021US SRT structures require cross-practice and cross-geography legal expertise
As the US “significant risk transfer” market catches up to its European equivalent, cross-practice legal teams are playing an important role in ensuring compliance with regulatory requirements for both banks and investors.
31 MAY 2024European middle market CLOs could rise in 2024: despite some challenges
Collateralised loan obligations (CLOs) are a prominent feature in the European capital markets landscape. Last year, public issuance of CLOs in Europe generated a volume of €26bn from 69 deals, remaining relatively steady from 2022 despite a slow start to the year. However, the market is off to a strong start in 2024, with year-to-date volume at the end of February standing at €6.3bn and with market participants predicting a bumper year.
31 MAR 2024Fund finance: the securitisation question
Does a transaction in the European fund finance market constitute a “securitisation” under EU and UK securitisation regulatory frameworks? The answer impacts the potential regulatory capital treatment and liquidity of the financing and, accordingly, the pricing that lenders may be able to provide. Funds need to be aware of this question and the regulatory implications across Europe.
1 MAR 2022Don’t forget about the NSIA: potential implications for securitisations
In this In Practice article, the authors explore some practical steps to address NSIA compliance risks for securitisation transactions, including: the importance of due diligence and determining if a transaction falls within scope of the NSIA’s notification requirements; considering if a voluntary notification is necessary to mitigate call-in risk; structuring security provisions to avoid potential pitfalls; and building in contractual provisions to ensure compliance by transaction parties.
1 JUN 2022The Draft RTS on ESG disclosures for STS securitisations: a hit or a miss?
Draft technical standards concerning sustainability disclosures aim to make STS securitisations more appealing from an ESG investment perspective. This In Practice article examines the proposed regime and identifies some practical shortcomings.
1 SEP 2022
