Latest Publications

Share:

Structured Thoughts: News for the financial services community, Volume 8, Issue 7

LIBOR: The End Game - Since the announcement on July 27, 2017 by the UK Financial Conduct Authority (the FCA) that the LIBOR rate would be phased out after 2021, much has been written about the complications of switching...more

The Rise of the ESAs: EU Proposals to Extend Direct Supervision of Financial Markets

On 20 September 2017, the European Commission published a package of measures designed to increase the powers of the three European Supervisory Authorities (ESAs), primarily by transferring certain powers of regulation and...more

Structured Thoughts: News for the financial services community, Volume 8, Issue 6

Canadian Bail-in and TLAC Rules: Impact on Structured Notes Offered in the United States - Introduction - In June 2017, the Canadian government released draft regulations relating to “bail-in instruments” issued by...more

Evolution Not Revolution: The New EU Prospectus Regulation

The EU’s new Prospectus Regulation was published in the Official Journal of the EU on 30 June 2017 and enters into force 20 days after such date, so 20 July 2017. The vast majority of its provisions will have effect from 21...more

Structured Thoughts: News for the financial services community, Volume 8, Issue 5

Implementing the DOL Fiduciary Rule - Background - On June 9, 2017, key provisions of the fiduciary rule adopted by the Department of Labor (“DOL”) will become applicable for most broker-dealers, as well as many...more

Proposed EMIR II – Key Points for Derivatives Markets Participants

On 4th May 2017, the European Commission announced its proposals to amend the current European Market Infrastructure Regulation (Reg. No. 648/2012) (“EMIR”). The proposals stem from its public consultation and Call for...more

Structured Thoughts: News for the financial services community, Volume 8, Issue 3

SEC Rolls Out “POSITIER” - The SEC’s Office of the Investor Advocate used a recent March 9, 2017 open meeting and related “Evidence Summit” to announce its new investor research initiative, “POSITIER.”1 This new acronym...more

UK Regulations: Urgent Action Required from Loan-based Crowdfunding Platforms

The UK’s Financial Conduct Authority (“FCA”) published a “Dear CEO” letter on 28 February 2017 that requires urgent action from firms which operate a loan-based crowdfunding platform that facilitates loans to lending...more

Uncertain Seas: European Financial and Regulatory Developments into 2017

Charting New and Dangerous Waters - Lloyd George and Epictetus may be long gone but their words have much resonance with the events of 2016. The political fallout from the UK’s vote to leave the European Union (“EU”)...more

Structured Thoughts: News for the financial services community - Special Issue

Final TLAC Rules and Structured Products - On December 15, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) issued its final rules regarding long-term debt and total loss absorbing...more

Structured Thoughts: News for the financial services community, Volume 7, Issue 12

FDIC Adopts New Recordkeeping Requirements for Large Banks – Modifies Original Proposal as to Brokered CDs - In November 2016, the FDIC approved a final rule establishing recordkeeping requirements for insured...more

Shaping MREL for European (and non-European) Banks

The European Commission (“Commission”), on 23 November 2016, released its legislative proposals to amend the EU’s Bank Recovery and Resolution Directive (“BRRD”) to provide more detailed rules relating to the setting of MREL...more

New EU Banking Legislation Reforms

On 23rd November 2016, the European Commission released a package of banking legislation reforms. Some of these were expected – in particular those related to the minimum requirement for eligible liabilities and own funds...more

11/28/2016  /  Banking Reform , Banks , BRRD , EU , FSB , MREL , TLAC

Structured Thoughts: News for the financial services community, Volume 7, Issue 11

Structured Products Legal and Regulatory Conference: November 2016 - In November 2016, Morrison & Foerster LLP sponsored Risk magazine’s annual structured products legal and regulatory conference in Washington, D.C. ...more

EU Market Abuse Regulation - Market Soundings Safe Harbour: Compliance and Record Requirements

The EU Regulation on Market Abuse (“MAR”) prohibits a person from unlawfully disclosing inside information relating to securities within the scope of the legislation. An unlawful disclosure is made when a person possesses...more

EU Market Abuse Regulation - Requirements for U.S. Issuers

The EU Regulation on Market Abuse (“MAR”) came into effect on 3 July 2016, replacing the previously existing Market Abuse Directive and expanding the application of the EU’s market abuse regime. In addition to detailing...more

EBA Second Monitoring Report of AT1 Instruments

On 11 July 2016, the European Banking Authority (“EBA”) published a draft of its second Report on the monitoring of Additional Tier 1 (“AT1”) instruments of EU institutions. The Report was undertaken pursuant to Article 80...more

Brexit: Some Initial Thoughts on Prospectus Requirements for Issuers Offering Financial Securities in the UK/EU

The United Kingdom has voted in a referendum by a narrow majority to leave the European Union (“Brexit”). The outcome of the referendum will have far-reaching consequences on financial markets and international capital...more

Setting the New Benchmark: EU Regulation on Financial Benchmarks

Background - The integrity of benchmarks used in financial transactions has been the subject of increasing focus from regulators since the investigations into manipulation of the setting of LIBOR, EURIBOR and other...more

Final European Standards for Derivatives Collateralisation

On 8 March 2016, the three European Supervisory Authorities (ESAs) published their final draft regulatory technical standards in relation to the collateralisation of non-centrally cleared derivatives. The standards are to...more

The Long Long Game: The EU Financial Regulatory Agenda Into 2016 and Beyond

2016 will mark the eighth anniversary of the collapse of Lehman Brothers and the raft of regulatory reforms introduced in the aftermath of that event and the wider financial crisis will continue to be implemented during the...more

BRRD – The UK’s Approach to MREL

The Bank of England (“BoE”) recently published a consultation paper1 (“Consultation”), detailing its approach to setting a minimum requirement for own funds and eligible liabilities (“MREL”) to be maintained by UK banks and...more

Structured Thoughts: News for the financial services community, Volume 6, Issue 9

ESMA Final Report on Complex Debt Instruments and Structured Deposits - On 26 November 2015, the European Securities and Markets Authority (“ESMA”) published its Final Report on its “Guidelines on complex debt...more

Casting Light on Shadows: New Transparency Rules for Securities Finance Transactions

This article summarises potential new European regulatory obligations that may arise for any financial entity, whether located inside or outside of the European Union, that regularly or occasionally enters into securities...more

Resolution of GSIBs – FSB Final TLAC Principles

On 9 November 2015, the Financial Stability Board (FSB) published its final principles on the loss-absorbing and recapitalisation capacity of global systemically important banks (G-SIBs) in resolution together with a final...more

73 Results
/
View per page
Page: of 3

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.