January 27, 2016
"The proposals as they stand will make it very difficult, if not impossible, for US originators to enter the market," said David Quirolo, partner at Cadwalader London. "That's quite a controversial move," he added.
"STS does a lot of things, including setting out what constitutes an STS securitisation," said Nick Shiren, partner at Cadwalader London. "But it's also an effort to collect dispersed EU rules," Shiren added.
— David Quirolo and Nick Shiren comment in IFLR on the US view of the EU's STS proposals