On 6 January 2021, the HM Treasury published the Short Selling (Notification Thresholds) Regulations 2021 (the “Regulations”). The FCA has updated its webpage on the notification and disclosure of net short positions to...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
On Jan. 9, 2019, both the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) published a report on crypto-assets....more
ESMA’s new Q&A clarify a number of key points on the MTF, OTF and SI regimes. On 5 April 2017, ESMA published an updated version of its Q&A document on market structures under MiFID II. The final section has been...more
Financial Industry Developments - SEC Adopts T+2 Settlement Cycle for Securities Transactions - On March 22, 2017, the Securities and Exchange Commission (SEC) adopted an amendment to Rule 15c6-1(a), shortening the...more
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
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
On 3 July 2016, the Market Abuse Regulation (596/2014/EU) (MAR) came into force. Even though guidance and clarity from the European Securities and Markets Authority is still awaited in relation to certain key aspects of MAR,...more
Regulation 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (also known as the Market Abuse Regulation, hereinafter referred to as MAR) became directly applicable in all EU Member States...more
CFTC and EC Statement on Regulatory Framework - On February 12, the CFTC and the European Commission announced jointly that the two agencies have made significant progress in their collaboration on the regulatory...more