The Securitisation Regulations 2024
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Change 1
33 Rules relating to due-diligence requirements of institutional investors
(1) The appropriate regulator must make general rules requiring a relevant institutional investor to carry out due diligence— (a) before holding a securitisation position, and (b) while holding a securitisation position. (2) In this regulation— “appropriate regulator”— in relation to a relevant institutional investor which is a PRA-authorised person, means the PRA; in relation to other relevant institutional investors, means the FCA; “general rules”— in relation to the FCA, has the meaning given in section 137A(2) of FSMA 2000; in relation to the PRA, has the meaning given in section 137G(2) of FSMA 2000; “relevant institutional investor” means an institutional investor which is an authorised person and which is not— the trustees or managers of an occupational pension scheme, or the originator, sponsor or original lender in that securitisation.
33 Rules relating to due-diligence requirements of institutional investors
(1) The appropriate regulator must make general rules requiring a relevant institutional investor to carry out due diligence— (a) before holding a securitisation position, and (b) while holding a securitisation position. (2) In this regulation— “appropriate regulator”— in relation to a relevant institutional investor which is a PRA-authorised person, means the PRA; in relation to other relevant institutional investors, means the FCA; “general rules”— in relation to the FCA, has the meaning given in section 137A(2) of FSMA 2000; in relation to the PRA, has the meaning given in section 137G(2) of FSMA 2000; “relevant institutional investor” means an institutional investor which is an authorised person and which is not— the trustees or managers of an occupational pension scheme, or the originator, sponsor or original lender in that securitisation.
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