In This Issue: Rating Agency Development; Second Circuit Rules That Payments Made to Purchase Notes Are Exempt from Avoidance Under Section 546(e) of the Bankruptcy Code; Lehman Derivative Litigation Still Looms Large;...more
The European Commission has given regulators at the European Securities and Markets Authority more time to analyze United States and Japanese credit swaps....more
The European Markets Infrastructure Regulation (EMIR) introduces requirements aimed at improving transparency and the reduction of risks associated with the derivatives market. EMIR also establishes organisational, conduct of...more
This newsletter provides an overview of some of the main financial services regulatory developments in the UK and EU from the period 1 January 2013 to 1 June 2013. Banking and Prudential Supervision Basel 3/Capital...more
On 31 May 2013, Regulation (EU) No 462/2013 (the “Amendment Regulation”) that further amends Regulation (EC) No 1060/2009 on credit rating agencies was published in the Official Journal. This was accompanied by a short...more
On June 3, The European Securities and Markets Authority (ESMA) published its technical advice to the European Commission on the impact of the Short Selling Regulation (ESMA/2013/649)....more
Although reconciliation of the key terms has been a best practice for over-the-counter derivative trades for some time (particularly with collateralised trades), the scale of the reconciliation exercise imposed by forthcoming...more
On June 6, the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) published their final report setting out principles for benchmark-setting processes in the EU (ESMA/2013/659)....more
In This Issue: SEC Proposed Rule on Money Market Reforms; FDIC Final Rule on Orderly Liquidity Authority; FDIC Credit Risk Assessment Report; CFTC No-Action Relief; CFPB Exam Procedures for New Mortgage Rules; Rating Agency...more
On May 30, the European Securities and Markets Authority (ESMA) published a press release relating to global supervisory cooperation on alternative funds....more
The European Securities and Markets Authority (ESMA) has approved co-operation arrangements that can now be entered into between European Economic Area (EEA) financial services regulators and 34 non-EEA jurisdictions where...more
In an important further step towards the implementation of the Alternative Investment Fund Managers Directive (AIFMD) in the European Economic Area (EEA) on July 22, 2013, the European Securities and Markets Authority (ESMA)...more
In this issue: - SEC Approves FINRA Rule Change That Requires Reporting OTC Equity Transactions Within 10 Seconds - NFA Issues Notice to Members Regarding Section 16 Financial Requirements for Cleared Swaps...more
In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more
Arrangements allow EU securities regulators to supervise non-EU alternative fund managers and thereby allow such managers access to the EU. On 30 May, the European Securities and Markets Authority (ESMA) announced that...more
Harneys’ reaction to the Press Release from the European Securities and Markets Authority (ESMA) dated 30 May 2013 - Introduction - It has been announced today that ESMA has approved co-operation arrangements...more
On May 13, the European Securities and Markets Authority (ESMA) published a letter (dated April 22, 2013) from Jonathan Faull, European Commission Director General of Internal Market and Services, to Steven Maijoor, ESMA...more
In This Issue: April Housing Scorecard; Rating Agency Developments; New York State Court Dismisses RMBS Putback Action Against Nomura As Time-Barred; New York State Court Allows Trustee Lawsuit Against DB Structured Products...more
This update summarises current regulatory developments impacting the asset management sector in the UK and throughout the European Union. In this issue: - Part A – Regulation of Financial Markets - Part B –...more
CME Group, the U.S. based derivatives exchange is in the process of applying for a license to the European Securities and Markets Authority (ESMA) in an effort to become a trade repository in Europe....more
In This Issue: - EU DEVELOPMENTS ..European Securities and Markets Authority (“ESMA”) Publishes an Update of the Committee of European Securities Regulators (“CESR”) Recommendations Regarding Mineral...more
More than seven months after publishing its consultation paper, the European Securities and Markets Authority (ESMA) recently published final guidelines (Guidelines) on sound remuneration policies under the Alternative...more
The first item on the UCITS agenda for 2013 – the ESMA Guidelines on ETFs and Other UCITS Issues (the “Guidelines”) – has gone live. This article provides an update and clarity around the recently finalised Guidelines2 since...more
On March 20, the European Securities and Markets Authority (ESMA) published Questions & Answers (Q&A) relating to the implementation of the Regulation on OTC Derivatives, Central Counterparties (CCPs) and Trade Repositories...more
Aim of proposed regulatory technical standards and consultation paper is to clarify the list of events that will trigger the automatic requirement for a supplement....more
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo
