The European Banking Authority has launched a consultation on the Regulatory Technical Standards that it is developing to govern certain aspects of counterparty credit risk in derivatives transactions. The EBA has been...more
France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector - Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from...more
On Jan. 3, 2018, the long-anticipated overhaul of European Union (EU) financial markets legislation will come into effect. The second Markets in Financial Instruments Directive (MiFID II) will broaden the scope of EU...more
On August 8, 2017, the Federal Reserve Board and Federal Deposit Insurance Corp. extended the deadline for 19 foreign banks and two domestic bank holding companies to file their next round of "living wills" detailing how they...more
SEC Approves Rules to Ease Investor Access to Exhibits in Company Filings - On March 1, 2017, the Securities and Exchange Commission (SEC) voted to adopt rule and form amendments that will require issuers to include a...more
AIFMD - ESMA Updates Q&As on the Application of the AIFMD - ESMA updated its Q&As on 16 December on the application of the AIFMD. The revised Q&As include one updated question and answer on reporting obligations by...more
Financial Industry Developments - The CFPB Publishes Final Rule for Prepaid Accounts - On October 5, 2016, the Consumer Financial Protection Bureau (the "CFPB") finalized comprehensive consumer protections for...more
The European Securities and Markets Authority published a discussion paper on the trading obligation for derivatives under the Markets in Financial Instruments Regulation. The trading obligation is applicable to classes of...more
The Joint Committee of the European Supervisory Authorities published an Opinion on the European Commission's proposed amendments to the final draft Regulatory Technical Standards on risk mitigation techniques for uncleared...more
EMIR – Exemption for Danish Pension Schemes and Endorsement of Margin Requirements for Uncleared Derivatives - ESMA issued its opinion exempting certain Danish pension scheme from central clearing under EMIR on 3 August...more
Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more
On March 8, the European Supervisory Authorities (which includes the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) published...more
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA) (“ESAs“) has published final draft Regulatory Technical Standards (“RTS“) outlining the framework of the European Market Infrastructure Regulation...more
Update - On 19 December 2012 the European Commission adopted nine regulatory and implementing technical standards for the regulation of OTC derivatives, central clearing and trade repositories. These standards were...more