Title: Securitisations , STS Securitisations and ESG factors

Biography:

Pierre de Gioia Carabellese is a Professor (full) of Business Law and Regulation, ECU, Australia, and appointed Professor (full) of Banking and Financial Law, at the Beijing Institute of Technology, Hong Kong Area, China. He is a notary public in Edinburgh, a Solicitor in UK and an Avvocato in Italy. Pierre holds a Ph.D. in banking and Financial Law.

Abstract

Securitisation transactions have been identified in the literature among the main reasons for the 2007/2008 financial crisis, alongside with derivative contracts. More than a decade later, the EU legislature has passed a legal framework comprehensively disciplining the area of the securitizations in the EU. On such a background the main purpose of the presentation is to discuss and analyse, in a holistic way, both the “rationale behind” the securitisations as financial transactions, with their main players (e.g. originators, SPVs and credit rating agencies), and their contractual characteristics. The ultimate goal of this legal analysis is to identify and clarify the entire legal process of the securitisations, as a result of the new EU legislation, as well as duties, responsibilities and practices incumbent on the main players.

Furthermore, the new challenges that the financial market have to face are the subject matter of the discussion. More precisely, the reference is to the new concept of sustainability and the technological development. In this scenario, there is a blend of financial issue, new environmental challenges and, at the end, the role that the humanity is called to play. Furthermore, the authors also include discussion of the main literature blossomed in the last two decades in the structured finance transactions, particularly that literature that has coined and unveiled, a decade ago, the concept of shadow banking.