Recital 33

(33) Effective supervision by competent authorities is necessary in order to check compliance with the specific requirements applicable to originators and to SSPEs. Regulation (EU) 2017/2402 requires that Member States designate one or more competent authorities responsible for supervising the compliance of securitisation transactions with the ‘simple, transparent and standardised’ (STS) designation, which also includes specific disclosure and exclusion requirements. In light of the experience that those competent authorities have obtained while reviewing securitisation transactions, it is appropriate that they supervise the compliance of originators with the requirements of this Regulation. However, given that both originators and SSPEs are involved in a securitisation, both the competent authorities of the originator and of the SSPE should be entrusted with the corresponding supervisory powers laid down in this Regulation, and should cooperate to ensure effective and adequate supervision.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-03 · Text as adopted (Official Journal); later amendments are not incorporated in this text.