Capital Markets Union - New Resolution from European Parliament -
The European Parliament published a press release on 9 July 2015 announcing the adoption of a non-binding resolution on building a capital markets union...more
SEC to Consider Adoption of Pay Ratio Disclosure Rules at August 5 Opening Meeting -
On July 29, the Securities and Exchange Commission, pursuant to a “Sunshine Act” notice, stated that it will hold an open meeting on...more
AIFMD – AIMA and EFAMA Comment on EBA Consultation on Draft Guidelines on Remuneration Policies for AIFMs -
AIMA and EFMA published their response to the EBA’s consultation on draft guidelines on sound remuneration...more
The European Securities and Markets Authority (ESMA) issued a consultation paper on 23 July 2015 in respect of the proposed guidelines on remuneration (UCITS Remuneration Guidelines) regarding the remuneration principles...more
IP Pitfalls in Tech M&A Transactions -
Technology and IP-driven deals accounted for over 30 percent of M&A deal volume in Europe in 2014. This trend is bound to continue, with many deals involving strategic or financial...more
As the 2015 AGM and reporting season gets underway, this bulletin gives an overview of the key changes affecting listed companies.
Directors' remuneration report
The 2015 AGM season will see the second year of...more
Since 1 January 2014, the EU’s Capital Requirements Directive (CRD)1 has required EU-regulated banks (EU Banks) to limit variable compensation paid to key bank staff to 100 percent of their fixed compensation (or 200 percent...more
On 15 October 2014 the European Banking Authority (“EBA”) issued a report on the use of role-based fixed allowances by various financial institutions within the European Union (“EU”) affected by the EU bonus ratio cap....more
Welcome to the sixth issue of Spotlight on Belgium, the publication through which DLA Piper’s Belgian team brings you up-to-speed with the latest legal updates. And as we are freshly out of the holiday period – it may not...more
On October 7, the European Securities and Markets Authority (ESMA) published a guidelines compliance table relating to its guidelines on remuneration policies and practices under the Markets in Financial Instruments Directive...more
In this issue:
- Capital and Prudential Regulation
- Credit Ratings
- Financial Services
On 13 May 2014 the District Court of Berlin (16 O 75/13) rejected a claim brought by a songwriter and a composer against a collecting society’s payout to music publishers. The claim was directed at a declaratory judgment that...more
The Minister of Finance has prepared a draft amendment to the Banking law.
The amendment is intended to implement the CRD IV (Directive 2013/36/EU of June 26, 2013) and CRR Regulation (Regulation No 575/2013 of June...more
The proposal covers shareholder votes on remuneration policies and related party transactions and greater transparency obligations on certain market participants.
The European Commission (EU Commission) recently...more
European lawmakers have reached agreement on amendments to the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive, which regulates the management and marketing of EU mutual funds. These...more
This alert will be of interest to FCA-authorised investment management firms that are registering, or are currently considering registering, as alternative investment fund managers (“AIFMs”).
In Germany, remuneration of managers in general has increasingly come into public and political focus.
Over the last years, the German legislator enacted several law reforms concerning managers’ pay. Very recently, the...more
Updates for UK listed and regulated companies on incoming “say on pay” rules, the UK challenge to the EU “bonus cap” and new guidance on AIFMD remuneration rules.
This Client Alert summarises three key developments...more
The UK Financial Conduct Authority (FCA) released proposed guidance on 6 September 2013 on its implementation of the remuneration provisions in the AIFM Directive (the AIFM Remuneration Code) for UK alternative investment...more
In This Presentation:
- AIFMD Remuneration Rules: Not going away
- Are there any ways I could avoid this altogether?
- If not, could I partially avoid it or minimise its effect?
- When do I need to worry about...more
The European Banking Authority (EBA) published a list of responses received to its May 2013 consultation paper on draft regulatory technical standards on criteria to identify categories of staff whose professional activities...more
Increasing regulation of remuneration is being introduced across the European Union, including the possibility of limits on the amounts of bonuses that may be paid by certain firms....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
On February 11, the European Securities and Markets Authority (ESMA) published its final report in relation to sound remuneration policies under the Alternative Investment Fund Managers Directive (AIFMD). ...more
On February 11, the European Securities and Markets Authority (ESMA) published final guidelines (Guidelines) on remuneration of alternative investment fund managers (AIFMs). The Guidelines follow from, and add detail to, the...more
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