What is SecRep BV?
SecRep is a Securitisation Repository (“SR”), as defined by the Securitisation Regulation (EU) 2017/2402 (the “Regulation”) and related Regulatory Technical Standards, which came into force on the 1st January 2019.
What Purpose Does SecRep BV Serve?
All public European Union and United Kingdom issuance of Asset Backed Securities or Securitisations must, by law, report data and documentation into a regulated SR, if there is one. SecRep receives this data and documentation from securitisation issuers and makes it available to Data Receivers, as defined in the Regulation.
Who Regulates SecRep BV?
SecRep intends to become the first registered SR, in both the EU and in the UK, by applying to both the European Securities and Markets Authority (“ESMA”) and the UK Financial Conduct Authority (“FCA”).
SecRep was set up by a subset of the group of ex-market professionals and IT technicians behind EuroABS.
EuroABS has been providing the securitisation markets in the EU and UK with technical consultancy and a comprehensive data and information platform since July 2000 so becoming an SR is a natural progression for the Company. The establishment of a new ring-fenced business with its own independent corporate governance and operational separation, exclusively for the provision of Core SR services, gives our customers a compliant and dedicated solution.