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On 27 March 2023 both SIFMA and AFME submitted letters of comment to the US Securities and Exchange Commission (the SEC) responding to the SEC’s Release No. 33-11151 proposing new Rule 192 (Rule 192), seeking to implement a prohibition as required by Section 27B of the Securities Act of 1933 (as inserted

Introduction

On 9 December 2022, the Chancellor of the Exchequer announced a set of reforms (the “Edinburgh Reforms”) that aim to drive growth and competitiveness in the financial services sector[1]. As part of the Edinburgh Reforms, the UK Government published both an illustrative Statutory Instrument on the Securitisation Regulation (the “