Back to the risk retention drawing board?

Risk retention will soon be a thing of the past in the US, but what happens to all the funds raised in the space over the past few years?

The long saga of US risk retention took an unexpected turn last month as a Washington DC appeals court threw out risk retention rules for managers of open-market CLOs. The unanimous 3-0 ruling on 9 February was a huge victory for the Loan Syndications and Trading Association (LSTA), which had