The EBA has published three sets of final guidelines aimed at facilitating the implementation of resolution tools in the banking sector across the EU. The guidelines have been developed under Articles 39, 42 and 65 of the EU...more
The European Commission has published two communications to the European Parliament concerning the position of the Council of the EU on the adoption of the proposed Fourth Money Laundering Directive (MLD4), and the proposed...more
The European Securities and Markets Authority (ESMA) has recognised ten third-country Central Counterparties (CCPs) in Australia, Hong Kong, Japan, and Singapore. The recognition allows these CCPs to provide clearing services...more
The European Commission has published a roadmap for non-bank recovery and resolution to provide a high-level public description of the planned initiative. Roadmaps give a first description of planned Commission initiatives –...more
On April 29, 2015, the European Parliament adopted a report by its Committee on Economic and Monetary Affairs (ECON) containing amendments to the European Commission’s proposed Regulations on Money Market Funds (MMF...more
The European Securities and Markets Authority (“ESMA”) has launched two major projects at the request of a number of National Competent Authorities (“NCAs”): the Instrument Reference Data Project and the Trade Repositories...more
The European Commission is consulting on a blueprint for creating a harmonised capital market across the EU, to facilitate capital raising in the EU while maintaining consumer and investor protection by simplifying the...more
The European Banking Authority has published a recommendation setting out its opinion on the confidentiality regime of several non-EU supervisory authorities to facilitate their participation in supervisory colleges...more
The UK Financial Conduct Authority (“FCA”) has published a review of structured product governance, in which it has criticized the ways in which instruments are developed and sold. The review contained six key points...more
The results of a study into the impact of EU regulation in the wake of the financial crisis have been published. New rules introduced since the 2007/09 financial crisis required banks to hold more capital for trading...more
The European Commission has laid out its plans in a new Tax Transparency Package to clamp down on tax deals made between EU governments and multi-national corporations. As of next year, EU members would have to declare their...more
A proposal to grant the European Commission a role in vetting gas supply contracts across the EU has been met with fierce resistance from the member states. The current proposal is another element of the EU’s broader...more
On February 25, 2015, the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2015 (SI 2015/369) was published with an explanatory memorandum. The Order comes into force on April 1, 2015, and...more
After a three year dispute over the place of the City of London in Europe’s single market, the EU General Court has ruled that the European Central Bank (“ECB”) lacked the legal powers to enforce a ban on clearing and...more
The ECB announced on Thursday that it would start its purchase of sovereign bonds on March 9 to support an accelerating economic recovery in the Eurozone, and would continue to do so until there was a “sustained adjustment in...more