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The book The Law of Securitisations: From Crises to
Techno-sustainability provides a full and detailed account of the
EU legislation in the area of structured finance with the new legal
rules dissected and discussed in their full extent. Securitisation
transactions have been identified in the literature among the main
reasons for the 2007–2008 financial crisis, alongside derivative
contracts. More than a decade later, the EU legislature passed in
2017 a legal framework comprehensively disciplining the area of
securitisations in the EU. On such a background the main purpose of
the book is to discuss and analyse, in a holistic way, both the
rationale behind the securitisations as financial transactions and
their main players (e.g. originators, SPVs and credit rating
agencies) and their "ESG" (Environmental, Social and Governance)
challenges, particularly the recent regulation passed in the EU
during the 2020–2021 global pandemic. The goal of this legal
analysis is to identify and clarify the entire legal process of
securitisations, as a result of the new EU legislation, as well as
duties, responsibilities and practices incumbent on the main
players. Furthermore, the monograph is also concerned with the new
challenges facing financial markets and their regulation: the new
concept of sustainability and the development of technology. In
this scenario, there is a blend of financial issues, new
environmental challenges and, ultimately, the role human beings are
expected to play, also from a social justice perspective. Adopting
not just doctrinal methodology but also comparative (from a private
law perspective) and interdisciplinary (regulatory and law and
economics), the authors also include a discussion of the main
literature which has blossomed over the last two decades on
structured finance transactions, particularly the literature that
unveiled, a decade ago, the concept of shadow banking. This book
will be one of the first to focus on the new EU Securitisation
Regulation and will be of interest to academics, students and
practitioners of financial law.
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