Regulators should "look at the assets, not the tool", conference hears
Regulatory proposals affecting the structured credit market dominated discussions as IMN's 20th Global ABS conference kicked off in Barcelona yesterday.

Congressman proposes to set CLOs free with drastic Dodd-Frank revision
Texas congressman Jeb Hensarling has put forward the Financial Choice Act (Choice = creating hope and opportunity for investors, consumers and entrepreneurs).

Academics challenge STS proposals with demand for 20% risk retention
A group of academics has written to the European Parliament to challenge the revival of Europe's securitisation market. The open letter demands that risk retention requirements should be increased to 20% - although the reason for arriving at this seemingly arbitrary figure is not explained

Trade associations unite in support of STS securitisation in Europe
Four of the European credit market's leading trade bodies have joined forces in support of simple, transparent and standardised (STS) securitisation.

Fed has no plans to introduce "qualified CLO" provision, says Yellen
Federal Reserve chair Janet Yellen has said that the board does not yet plan to introduce a “qualified CLO” provision into CLO market regulation, according to a document posted on the LSTA's website

Milbank announces promotion of leading CLO lawyer in London
Milbank has announced that CLO specialist John Goldfinch has been promoted to partner

Due diligence requirements could catch out CLO originators, says Milbank
The wording of an article in recently proposed European securitisation regulation could present problems for CLO originators in the future, according to a client alert published by Milbank

Europe proposes to switch burden of risk retention compliance to managers
European CLO originators, sponsors and original lenders will be required to ensure that their deals are compliant with risk retention rules in future, under the terms of a leaked regulatory proposal from the European Commission

EBA sets out framework for "qualifying securitisations" at public hearing
European asset-backed securities could be set for regulatory capital relief in the coming months after the European Banking Authority outlined its approach to so-called “qualifying securitisations” on Friday.

Conference hears there are no easy answers to CLO risk retention
A panel on CLO risk retention at the ABS Vegas conference looked at solutions using a horizontal strip held by a majority-owned affiliate, but came up with no definite answer.

Volcker tweak could save all existing CLOs – if the bill passes
The US House of Representatives yesterday passed a bill which could exempt many existing CLOs from the Volcker rule if it becomes law

Regulators plan to unveil US risk retention rules next week
After a number of years in the pipeline, regulators are finally set to make a formal announcement on what US risk retention rules will look like. 

Reg cap changes could boost insurer demand for structured products
New proposals on US insurance company regulatory capital could significantly boost demand for triple A and double A structured finance bonds, says Morgan Stanley

SEC spares CLOs from further regulation
CLO managers and arrangers breathed a sigh of relief yesterday after the Securities & Exchange Commission approved a new rule for the securitisation market, which seemingly spared CLOs from further regulation.

3iDM lays claim to the first Volcker-compliant European CLO
3i Debt Management has announced that it has closed its latest European CLO, which 3iDM claims is the first Volcker-compliant CLO in Europe