The European Market Infrastructure Regulation (EMIR) data reporting requirements apply to European Union (EU) funds and EU fund managers. UK EMIR imposes reporting requirements on UK funds and UK managers. The reporting...more
European Union (EU) proposals for changes to the over-the-counter (OTC) derivatives trading rules are underway. The final rules are not yet agreed, but we set out a summary of the proposals below....more
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have published a Consultation Paper1 with proposed changes to the secondary rules regarding margin requirements applicable to non-centrally...more
On 27 January 2021, the European Commission adopted an equivalence decision determining that the legal and supervisory arrangements applicable to US central counterparties (CCPs) registered with the Securities and Exchange...more
Derivatives reporting responsibilities under the European Market Infrastructure Regulation (EMIR) will change from 18 June 20201, as (i) alternative investment fund managers (AIFMs) will become responsible for reporting for...more
6/16/2020
/ Alternative Investment Funds ,
Derivatives ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
ISDA ,
Non-Financial Counterparties (NFC) ,
Over The Counter Derivatives (OTC) ,
Regulatory Requirements ,
Reporting Requirements ,
Special Purpose Vehicles ,
UK Brexit
Welcome to the 2020 edition of In Principle. With the United Kingdom (UK) leaving the European Union (EU) on31 January 2020, and moving into a transition period which will last until 31 December 2020, Brexit of courselooms...more
1/30/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Certifications ,
Climate Change ,
Cybersecurity ,
Data Protection ,
Data Security ,
Disclosure Requirements ,
EMIR ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
EU ,
EU Benchmark Regulation ,
EU Market Abuse Regulation (EU MAR) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment Firms ,
Investment Funds ,
Investment Management ,
Investors ,
Libor ,
Market Abuse ,
National Competent Authorities (NCA) ,
Personal Liability ,
Proposed Amendments ,
Reporting Requirements ,
Senior Managers ,
SFTR ,
Shareholder Rights ,
Sustainability ,
UK ,
UK Brexit
The new European Union rules requiring reporting by fund managers of securities financing transactions (SFT) take effect on October 11, 2020. While the scope of the reporting requirements under Article 4 of the Securities...more
1/23/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Legal Entity Identifiers ,
New Rules ,
Reporting Requirements ,
Securities Financing Transactions (SFTs) ,
SFTR ,
Third Country Entities (TCEs) ,
UCITS
Legislative reform to the European Market Infrastructure Regulation (EMIR) has now been finalised and the changes are expected to take effect in or around June 2019. The EMIR Refit, as the reform is known, amends the scope of...more
• Under Swiss law, to fulfil the clearing, reporting and risk mitigation obligations applying to derivatives trading under foreign law, the Swiss Financial Market Supervisory Authority (FINMA) must recognize the foreign law...more
4/18/2019
/ Counterparty Risk ,
Cross-Border Transactions ,
Derivatives ,
EMIR ,
EU ,
Financial Markets ,
FINMA ,
Foreign Financial Institutions (FFI) ,
Over The Counter Derivatives (OTC) ,
Reporting Requirements ,
Risk Mitigation ,
Switzerland ,
UK ,
UK Brexit
In the 2018 edition of this publication, we ended the introduction with the line, “We can only hope that we will enter 2019 with greater certainty than 2018 as to how the regulatory landscape will look.” Unfortunately,...more
1/31/2019
/ Amended Regulation ,
Asset Management ,
Banking Sector ,
Benchmarks ,
Broker-Dealer ,
Compensation Agreements ,
Cybersecurity ,
Data Protection ,
Data Security ,
EMIR ,
Enforcement ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Infrastructure ,
Libor ,
Market Abuse ,
Market Infrastructure ,
Securities Financing Transactions (SFTs) ,
SMCR ,
Sustainability ,
UK Brexit
There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more
1/25/2018
/ Anti-Money Laundering ,
Appeals ,
Asset Management ,
Attorney-Client Privilege ,
Banks ,
Code of Conduct ,
Compensation ,
Competition ,
Conflicts of Interest ,
Data Breach ,
Data Protection ,
Data Subjects Rights ,
Disclosure Requirements ,
EMIR ,
Encryption ,
Enforcement Actions ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
General Data Protection Regulation (GDPR) ,
Internal Investigations ,
Investment Funds ,
Investors ,
Law Firm Ownership ,
Law Firm Partners ,
Market Abuse ,
MiFID II ,
Mobile Apps ,
New Legislation ,
Notification Requirements ,
Penalties ,
Performance Reviews ,
Personal Data ,
Popular ,
Reporting Requirements ,
Royal Bank of Scotland ,
Securities and Exchange Commission (SEC) ,
Securities Financing Transactions (SFTs) ,
SFO ,
SFTR ,
Short Selling ,
Skilled Laborers ,
SMCR ,
Technology Sector ,
Transparency ,
Trustees ,
UCITS ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Wall Street