News and Deals
Linklaters proposes targeted legal changes to promote availability of finance across the EU and in the UK
Press Contact
Lowri Cole
PR & Communications Advisor
+447879735099
lowri.cole@linklaters.com
News and Deals
Press Contact
Lowri Cole
PR & Communications Advisor
+447879735099
lowri.cole@linklaters.com
Linklaters has proposed targeted legal reforms in the EU and UK aimed at removing legacy barriers in the securitisation markets to support improved provision of finance to households and businesses.
Developed by Linklaters securitisation specialists, Andy Vickery, Global Head of Finance, Alex Shopov, Partner and co-author of The Law and Practice of Securitisation, Jördis Heckt-Harbeck, Partner, Guillaume Malaty, Counsel and George Gooderham, Counsel and co-author of The Law and Practice of Securitisation, the EU proposals focus on the creation of a single pan-EU legal framework for the establishment of securitisation vehicles, seeking to close the gap with highly-successful, nationwide US securitisations.
Given the simplicity of the activities of a securitisation vehicle, when compared to a trading company, this proposal would also be an opportunity to implement arrangements akin to a relatively uncomplicated version of the “28th regime” recommended by Enrico Letta in his 2024 report to the EU. The UK proposals seek to simplify and modernise the existing UK legal framework in a targeted way, including in some cases removing specific obsolete barriers from more than a century ago.
Taken together, these measures are intended to improve legal predictability, reduce transaction costs and make it easier to execute securitisations at scale across the EU and in the UK, in order to support the goal of unlocking flows of non bank finance into the real economy, all of which should contribute to EU and UK competitiveness.
The proposals have been made public to assist policymakers in the EU and the UK and to contribute to the wider debate on deepening capital markets and supporting the real economy.
Andy Vickery, Global Head of Finance, commented:
“Our EU proposals are aimed at removing specific legal frictions that not only add cost and complexity, but presently stand in the way of pan-EU securitisation, holding back scale and diversification. Implementing them would support greater availability of finance across the EU.”
Alex Shopov, Partner, added:
“Our UK proposals are aimed at simplifying outdated legal requirements, in some cases dating back to 1908, presently adding cost and uncertainty, without improving outcomes for regulators, investors, originators or borrowers. As practitioners in the area, it is important for us to help lawmakers and the market identify such targeted areas for modernisation in order to support the provision of finance in the UK.”
Both the UK and EU proposals are set out in the January and February 2026 editions of The Journal of International Banking and Financial Law (JIBFL), which are freely available upon registration.