On 27 January 2026, the European Central Bank ("ECB") published a press release together with a draft amending Guideline (ECB 2026/1), pending publication in the Official Journal of the EU, which amends the Eurosystem...more
2/27/2026
/ Asset-Backed Securities ,
Automotive Industry ,
Automotive Loans ,
Capital Markets ,
Consumer Financial Products ,
EU ,
European Central Bank ,
Financial Institutions ,
Financial Services Industry ,
Loans ,
Regulatory Requirements ,
Risk Management ,
Securitization
Both the Financial Industry Regulatory Authority ("FINRA") and the National Futures Association ("NFA") have implemented rules prohibiting the practice of "frontrunning." Criminal prosecutors and financial regulators have...more
In January 2026, the European Central Bank ("ECB") introduced a fast-track assessment for certain capital operations and significant risk transfer ("SRT") securitizations, cutting typical decision times from about three...more
1/30/2026
/ Asset-Backed Securities ,
Banking Sector ,
Banks ,
Capital Markets ,
Capital Requirements Regulation (CRR) ,
EU ,
European Central Bank ,
Financial Institutions ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management ,
Securitization
The Situation: Demand for standardized documentation to support trading in EU guarantees of origin has grown alongside the desire in the public and private sectors to reduce carbon emissions and transition to cleaner energy. ...more
12/19/2025
/ Carbon Emissions ,
Clean Energy ,
Climate Change ,
Contract Terms ,
Energy Policy ,
Energy Projects ,
Energy Sector ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Greenhouse Gas Emissions ,
ISDA ,
Power Purchase Agreements ,
Renewable Energy ,
Sustainability
On 15 December 2025, an External Review Panel of the Determinations Committee of the International Swaps and Derivatives Association ("ISDA") delivered its determination of the first question referred to it by the committee...more
12/18/2025
/ Capital Markets ,
Contract Interpretation ,
Contract Terms ,
Credit Agreements ,
Credit Default Swaps ,
Creditors ,
Debt Instruments ,
Debt Restructuring ,
Debt Securities ,
Derivatives ,
English Common Law ,
Financial Markets ,
ISDA ,
Over The Counter Derivatives (OTC) ,
Restructuring
New standardized documentation will allow market participants to rely on up-to-date and robust documentation for repurchase transactions, in line with international standards....more
9/26/2025
/ Banks ,
Capital Markets ,
Contract Terms ,
EU ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
France ,
Regulatory Reform ,
Repurchases ,
Securities Regulation
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
9/22/2025
/ Banks ,
Basel III ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
Liquidity Risk Management Rule ,
Regulatory Reform ,
Regulatory Requirements ,
Securitization ,
Securitization Market ,
Securitization Standards
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
9/15/2025
/ Capital Markets ,
Capital Requirements ,
EU ,
European Commission ,
Financial Institutions ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management ,
Securitization ,
Securitization Market ,
Securitization Standards
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
9/8/2025
/ Asset-Backed Securities ,
Capital Markets ,
EU ,
European Commission ,
Financial Services Industry ,
Investment ,
Investment Portfolios ,
Regulatory Reform ,
Regulatory Requirements ,
Securitization ,
Securitization Market ,
Securitization Standards ,
Securitization Vehicles ,
Small and Medium-Sized Enterprises (SMEs)
To promote regulatory clarity, on August 28, 2025, the Commodity Futures Trading Commission ("CFTC")'s Division of Market Oversight issued an advisory to reaffirm its longstanding foreign board of trade ("FBOT") registration...more
9/5/2025
/ CFTC ,
Cross-Border Transactions ,
Crypto Exchanges ,
Designated Contract Markets (DCMs) ,
Digital Assets ,
Financial Markets ,
Financial Services Industry ,
Foreign Boards of Trade (FBOT) ,
Investment ,
New Guidance ,
Registration Requirement ,
Regulatory Oversight ,
Regulatory Requirements
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
9/2/2025
/ Asset-Backed Securities ,
Banks ,
Capital Requirements Regulation (CRR) ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
Financial Institutions ,
Financial Regulatory Reform ,
Regulatory Oversight ,
Risk Management ,
Securitization Market ,
Securitization Standards ,
Securitization Vehicles
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
8/25/2025
/ Asset-Backed Securities ,
Capital Markets ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Regulatory Reform ,
Securitization ,
Securitization Market ,
Securitization Standards ,
Securitization Vehicles
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
8/19/2025
/ Due Diligence ,
EU ,
European Commission ,
Financial Regulatory Reform ,
Financial Services Industry ,
Institutional Investors ,
Regulatory Requirements ,
Risk Assessment ,
Risk Retention ,
Securitization Market ,
Securitization Standards ,
Securitization Vehicles
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
8/4/2025
/ Asset-Backed Securities ,
Banks ,
Capital Requirements Regulation (CRR) ,
EU ,
European Commission ,
Financial Regulatory Reform ,
Proposed Legislation ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management ,
Securitization ,
Securitization Market ,
Securitization Standards ,
Securitization Vehicles
On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more
7/28/2025
/ Capital Markets ,
EU ,
Financial Markets ,
Investment ,
Proposed Amendments ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Reform ,
Reporting Requirements ,
Securitization ,
Securitization Standards ,
Transparency
In January 2019, the EU introduced its current regulatory framework for securitisations, seeking to improve transparency, robustness, and market confidence following the global financial crisis. Market participants have...more
7/18/2025
/ Banks ,
Capital Markets ,
Capital Requirements ,
EU ,
Financial Regulatory Reform ,
Insurance Industry ,
Proposed Rules ,
Regulatory Reform ,
Risk Management ,
Securitization ,
Securitization Standards
Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market...more
Pre-hedging has been the subject of significant debate within the financial industry in recent years, with concerns often raised over potential conduct and market integrity issues. The regulatory landscape remains fragmented,...more
EMIR 3, published in the Official Journal of the EU on December 4, 2024, introduces substantive changes to the existing clearing framework and margining exemptions under the EMIR Regulation....more
The Background: In 2021, the Financial Conduct Authority ("FCA") and HM Treasury began consulting on the Wholesale Markets Review (the "Review"), a broad review of the structure, functioning, and regulation of secondary...more
8/15/2024
/ CFTC ,
Consumer Financial Products ,
Derivatives ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Inter-Bank Offered Rates (IBORs) ,
Interest Rates ,
Risk Free Rates (RFRs) ,
Secured Overnight Funding Rate (SOFR) ,
UK ,
UK Brexit
For the first time ever, a court in France has examined the compatibility of the statutory netting safe harbor with the French Constitution. The French High Court of Justice (Cour de cassation) addressed the preliminary...more