US CLOs: The End of US Risk Retention for Collateral Managers?

Partners Craig Stein and Phillip Azzollini co-authored the “U.S. CLOs: The End of U.S. Risk Retention for Collateral Managers?” chapter for The International Comparative Legal Guide to: Securitisation 2018. With contributions from partner Paul Watterson, the chapter explains the U.S. Risk Retention Rule and its application of credit risk retention requirements to managers of open-market CLOs and discusses a February 2018 ruling by a three-judge panel of the U.S. Court of Appeals for the District of Columbia which will affect the future application of U.S. credit risk retention requirements for managers of open-market CLOs.

The International Comparative Legal Guide to: Securitisation is published by Global Legal Group Ltd, London. The annual guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of securitization.