Understanding Securitisation

Objectives

This information-packed training session is intended to give participants a general understanding of securitisation from the perspective of both Luxembourg and EU law, using concrete examples to explain the legal, tax and regulatory frameworks governing this process.

Upon completion of this training, participants will:

• have an overview of securitisation transactions,
• be able to identify the different actors in a securitisation transaction and their role in it, and
• have an understanding of the legal and tax issues associated with these transactions.

Content

Legal and regulatory framework governing securitisation transactions:

• Analysis of the key concepts in the law of 22 March 2004 on securitisation, as amended by the law of 25 February 2022
• Analysis of the key concepts in EU Regulation 2017/2402 of 12 December 2017 creating a general framework for securitisation

 
Main legal issues in securitisation transactions:

• Which assets are suitable for securitisation?
• How do you choose the right securitisation structure?
• Active versus passive management – Which rules apply?
• Which securitisation structures are subject to supervision?
• Securitisation vehicles and the AIFMD
• Compartments – How are they made and what do they do?
• What about taxation? – Direct taxes; VAT; ATAD I, II and III

 
Other practical aspects of securitisation transactions:

• Limited recourse, non-petition and subordination clauses
• Stakeholders and their roles
• Who are the beneficial owners, shareholders or bondholders?
• Case studies

Speakers

Our speakers belong to both our specialised and complementary teams and as such cover all legal, regulatory, taxation and advisory aspects of doing business in Luxembourg. We invite you to check our training agenda where the speakers are listed on each training session.

Target Group

Bankers, investment officers, accountants, legal and tax practitioners, lawyers, and other individuals whose professional future may be enhanced by an understanding of the securitisation technique.

Duration

4 hours.

Language

English, French (in customised format) 

For more information, please contact us by e-mail at institute@arendt.com