Podcast: ESMA Report: Undue Pressure on Companies
The European Securities and Markets Authority has published an Opinion on the sustainable finance regulatory framework, setting out possible long-term improvements. ESMA acknowledges that while the EU sustainable finance...more
Crypto-asset firms are increasingly focused on the impact of MiCA on their businesses both from the perspective of high-level strategy and in relation to changes to their day-to-day compliance arrangements. MiCA represents a...more
Fund Tokenisation: The Financial Conduct Authority (“FCA”) published a press release announcing that it has joined the Monetary Authority of Singapore’s Project Guardian, a collaborative initiative with the financial industry...more
U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...more
A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the...more
The European Securities and Markets Authority has opened a consultation in which it proposes to amend the cash penalty process for cleared transactions under the EU Central Securities Depositories Regulation. The EU CSDR...more
The U.K. Financial Conduct Authority has published a Policy Statement and final changes to the Listing Rules following its Primary Market Effectiveness Review consultation. The changes become effective on December 3, 2021 and...more
Diverging approaches to Share Trading Obligations from the FCA and ESMA pose challenges for investment firms in a post-Brexit Europe. With 1 January 2021 creeping closer and the hope of securing an effective Brexit deal...more
Ahead of the end of the Brexit transition period, on 31 December 2020, regulators in the UK and the EU have issued a number of updates: Share trading obligation - In relation to the potential conflict between the share...more
On 11 November 2020, the U.K. Government announced long-awaited and extensive reforms to the U.K. foreign investment regime. The reforms proposed are more significant than anticipated and include a mandatory notification...more
There is no silver bullet for maintaining cross-border trading if the UK leaves the EU without a deal. The date of Brexit has been delayed until (at least) October 31, 2019, but there is little sign that financial...more
Partners Julia Smithers Excell and Stuart Willey, and associate Laura Kitchen of global law firm White & Case take a deep dive on the latest publications from EU and UK regulators aimed at providing supervisory clarity on the...more
In a series of votes on 29 January 2019, the parliament of the United Kingdom (the “UK”) rejected proposals aimed at preventing the UK from leaving the European Union (the “EU”) on 29 March 2019 without a Withdrawal Agreement...more
With crypto-currencies on the rise and technological developments providing great opportunities in the financial services sector, Initial Coin Offerings ("ICO") provide an innovative way of raising capital. They are...more
In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more