Summary of SPOT inspections on simple, transparent and standardised (STS) securitisation

In accordance with the supervision priorities of the Autorité des Marchés Financiers (AMF) for 2021, a series of short thematic “SPOT” inspections relating to simple, transparent and standardised securitisations (hereinafter "STS securitisations") were carried out from November 2021 to February 2022. These inspections took place within the framework of the provisions introduced by Regulation (EU) 2017/2402 of 12 December 2017 creating a general framework for securitisation and a specific framework for STS securitisations (hereinafter "SECR"), which came into force on 1 January 2019, as amended by Regulation (EU) 2021/557 of 31 March 2021, which came into force on 9 April 2021. The investigations covered a sample group of five investment service providers (hereinafter "ISPs") and covered a period from 1 January 2019 to 30 September 2021.