Why established businesses falter
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Established businesses are doing this one thing that is seriously stunting their success Start-ups aren t | Article
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One of the challenges for the securitization market last year was the progress of the European Union’s simple, transparent and standardised (STS) regulation. First introduced in 2017, last year was when many of its provisions made it to the rule book, while ever more issuers are using the STS label or otherwise producing the ESMA annexes for their securitisations and are getting used to dealing with the demand for high quality portfolio data. With work continuing on the role of data repositories, this challenge isn’t over yet, says Andrew Mulley, EMEA head of issuer services at Citi.
“Since the implementation of the STS rules and ESMA annexes, the focus is very much on data quality,” he says. “The job of getting that data right is something we’ve been talking about for some time, but really has been brought home as the regulations and annexes have been implemented.”