News & Analysis as of

ESMA Issues Public Statement on Collateralization of Bank Guarantees for Energy Derivatives

On November 19, the European Securities and Markets Authority (ESMA) issued a public statement (Public Statement) regarding its decision not to extend the current three year grace period which permits non-financial firms to...more

Update on Third Country Equivalence Under EMIR

The European Commission has adopted “equivalence” decisions on the derivatives regulatory regimes for central counterparties in Canada, Mexico, Republic of Korea, South Africa and Switzerland. This follows the decisions...more

Time for an Upgrade: Central Bank of Ireland Replaces UCITS Notices and Guidance Notes with Statutory Instrument

For more than 25 years, the essential text for anybody wishing to navigate the regulatory environment for UCITS in Ireland has been the UCITS Notices which were supplemented by UCITS Guidance and then the UCITS Q&A....more

ESMA Reopens Consultation on Indirect Clearing Arrangements

On November 5, the European Securities and Markets Authority (ESMA) published a consultation paper relating to indirect clearing arrangements (CP). The CP consists of a review of the existing regulatory technical standards...more

SEC Agenda for 2016: Tighten Rules on Leverage for Funds; Stress Testing and Third-Party Compliance Reviews for Advisers

In testimony before the House Committee on Financial Services on November 18, 2015, SEC Chair Mary Jo White described what the SEC has in store for the investment management industry....more

ESMA consults on indirect clearing

ESMA is consulting on amending regulatory technical standards (RTS) on indirect clearing arrangements for OTC derivatives under the European Market Infrastructure Regulation (EMIR) and on draft RTS for exchange-traded...more

ODRG reports on cross-border implementation

ESMA has published the OTC Derivatives Regulators Group (ODRG) report updating G20 on further progress in identifying and resolving OTC derivatives cross-border implementation issues....more

IOSCO publishes harmonisation responses

IOSCO has released the responses to its consultations on harmonisation of key OTC derivatives data elements and harmonisation of the unique transaction identifier (UTI) (see FReD 4 September and FReD 21 August respectively). ...more

FSB reports on OTC implementation

FSB has issued a peer review and a progress report on the implementation of reforms to the over-the-counter (OTC) derivatives market. The peer review assesses progress of FSB member jurisdictions in implementing trade...more

"EU Lawmakers May Delay MiFID 2 Implementation"

Yesterday’s press reports indicate that European Union lawmakers are likely to delay MiFID 2 implementation. MiFID 2 is the name given to the EU laws which will reform EU securities and derivatives markets. Once implemented,...more

SEC to Recommend Additional Compliance Rules for Investment Advisers

David W. Grim, Director of the SEC’s Division of Investment Management (the “Division”), recently noted in testimony before a U.S. House of Representatives subcommittee that the Division is developing new rule recommendations...more

Stockholder activism disclosure tips: deciphering increasingly complicated timing and ownership positions

Peeling away the various arguments of stockholder activists and their often larger-than-life personas - and occasional multi-hour conference calls - lays bare the gritty details of the ways stockholder activists actually take...more

"Prudential Regulators Finalize Margin Requirements for Non-Cleared Swaps"

Federal banking regulators (Prudential Regulators) have finalized much-anticipated rules (Final Rules) relating to initial and variation margin requirements for certain swaps and security-based swaps that are not centrally...more

FMLC reports on clearing uncertainty in MiFIR

FMLC has published a paper on uncertainty arising in the context of indirect clearing of exchange traded derivatives under the Markets in Financial Instruments Regulation (MiFIR). There was no RTS for indirect clearing...more

Draft Derivatives Laws Issued for the Canadian Cooperative System Harmonize Divergent Provincial Approaches

Draft derivatives regulations and a revised draft of the uniform Capital Markets Act (CMA) were issued in August 2015 as part of the process to implement the new Cooperative Capital Market Regulatory System (Cooperative...more

Rating Agency Developments

On October 15, 2015, DBRS released a report entitled Operational Risk Assessment for European Structured Finance Originators. On October 15, 2015, Fitch published its updated U.S. Auto Loan ABS Rating Criteria. On October 16,...more

ESMA publishes commodities guideline translations

ESMA has published the official translations of its guidelines on commodity derivatives under the current Markets in Financial Instruments Directive....more

The Financial Report - Volume 4, No. 20 - October 2015 (Global)

Last Friday, the Securities and Exchange Commission published a 41-page report that provides private fund industry statistics and trends. The report aggregates data supplied by more than 2,600 private fund advisers on Form...more

SEC Settles Charges that Investment Adviser Failed to Adequately Disclose Changes in Investment Strategy

The SEC settled charges with two investment advisers to a closed-end fund based on allegations that the advisers failed to adequately disclose a change in investment strategy to the fund’s board and its investors. The SEC...more

SEC Report: Private Fund Assets Grew by 25 Percent over Past Two Years; Private Fund Leverage Revealed

The SEC’s “Private Funds Statistics” report, published October 16, 2016, reveals that the number of private funds and private fund assets has grown significantly over the past two years. The data show that private funds, as a...more

SEC Begins Publishing Statistics on Hedge Funds and Private Equity Advisors

The SEC published a report that provides private fund industry statistics and trends, reflecting aggregated data reported by private fund advisers on Form ADV and Form PF. Most of the data in the more than 50 separate tables...more

Final Regulations Under Section 871(m) Clarify Withholding Tax Rules for Equity-Linked Derivatives, Yet Many Challenges Remain

On September 17, 2015, the Treasury Department and the Internal Revenue Service (the “IRS”) issued new temporary and final regulations under section 871(m) of the Internal Revenue Code regarding the imposition of US federal...more

ESMA informs of delay to MiFIR RTS

ESMA Chair, Steven Maijoor, has written to the Commission informing it of a delay in submitting the RTS on indirect clearing and exchange-traded derivatives under the Markets in Financial Instruments Regulation (MiFIR). ESMA...more

UBS Settles Structured Note Case with SEC

The Commission brought its first case tied to inadequate disclosure regarding structured notes. The complex instruments, a debt security linked to a derivative tied to the performance of other products, are frequently...more

Corporate and Financial Weekly Digest - Volume X, Issue 39

SEC/CORPORATE - House Passes Disclosure Modification and “4(a)(1)(1/2)” Bills - On October 6, the US House of Representatives passed the Disclosure Modification and Simplification Act of 2015 (H.R. 1525), which, if...more

482 Results
View per page
Page: of 20

"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 to create your digest using LinkedIn*

*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.