The new STS regime, which establishes a more risk-sensitive prudential framework for simple, transparent and standardised securitisations, forms part of the Securitisation Regulation which applies since 1 January 2019.
NautaDutilh acts as transaction counsel for Venn Partners LLP for its new Cartesian Residential Mortgages Blue transaction, which was launched on Friday 29 March 2019. For Obvion's Storm 2019-I transaction, announced on 26 March 2019, NautaDutilh acts as legal counsel to Coöperatieve Rabobank U.A. as to Securitisation Regulation matters. For both RMBS transactions, compliance with the STS requirements is verified by Prime Collateralised Securities (PCS) as STS third party verification agent.
For Storm 2019-I, the NautaDutilh team consists of Arjan Scheltema and Liza Gerritsen. The team assisting Venn Partners LLP consists of Michaëla Ulrici, Liza Gerritsen and Tjalling Bosker in the Netherlands and, in Luxembourg, Romain Sabatier, Jean-Marc Groelly, Nicolas Bonora and Marierose Schwartz.