In connection with the anticipated discontinuance of LIBOR and similar benchmarks, the International Swaps and Derivatives Association (ISDA) has published the 2020 IBOR Fallbacks Protocol (Protocol) to help market...more
With regard to short selling, or more precisely, net short positions, two sets of measures have been taken: lowering of thresholds (a) and prohibitions (b). These measures are based on the provisions of Articles 20 and 28 of...more
With the continuing spread of the COVID-19 pandemic across the globe, its full implications remain unknown. For OTC derivatives market participants, COVID-19 raises a number of considerations that firms should take into...more
3/17/2020
/ Business Disruption ,
China ,
Commodities ,
Coronavirus/COVID-19 ,
Crisis Management ,
Derivatives ,
Emergency Management Plans ,
Financial Markets ,
Force Majeure Clause ,
Holidays ,
Infectious Diseases ,
Investment ,
ISDA ,
Market Participants ,
Over The Counter Derivatives (OTC) ,
Public Health ,
Valuation
Challenge of the guidelines of the European Banking Authority and notice of compliance by the Prudential Supervisory and Resolution Authority (ACPR) In its notice of September 8, 2017, the ACPR stated that it complies with...more
1/13/2020
/ Annual Percentage Rate (APR) ,
Anti-Competitive ,
Borrowers ,
Central Counterparties ,
Consumer Financial Products ,
Cooperative Compliance Regime ,
Credit Agreements ,
Due Diligence ,
Economic Sanctions ,
EU ,
EURIBOR ,
European Banking Authority (EBA) ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Services Industry ,
France ,
Intermediaries ,
Investment Firms ,
Lenders ,
Prudential Standards
L’Autorité de contrôle prudentiel et de résolution (ACPR) met en garde les assureurs vie et dommages face à la diminution des rendements des actifs (dans un entretien avec Bernard Delas, vice-président de l’ACPR dans l’Argus...more
Le règlement (UE) n°2019/834 (EMIR Refit ou EMIR 2.1) publié au JOUE le 28 mai 2019 est entré en vigueur le 17 juin 2019.
L'objectif majeur d’EMIR Refit est de limiter l'application du règlement (UE) n°648/2012 (EMIR) aux...more
7/29/2019
/ AIFs ,
AMF ,
Consumer Financial Products ,
Derivatives ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Financial Services Industry ,
Non-Financial Counterparties (NFC) ,
Over The Counter Derivatives (OTC) ,
Special Purpose Vehicles ,
Threshold Requirements
On April 18, 2019, the final text amending the European Market Infrastructure Regulation (EMIR) was adopted by the European Parliament. The update to EMIR is widely referred to as EMIR REFIT and will come into effect on June...more
La surveillance d’un assuré par les détectives d’un assureur ne constitue pas une atteinte au droit à la vie privée (CEDH, 11 déc. 2018, n° 17331/11, Elvir Mehmedovic et Elina Mehmedovic c/ Suisse)....more
On Feb. 6, the French government put forth a statutory instrument (l'ordonnance n° 2019-75 du 6 février 2019, hereinafter the l’ordonnance) containing changes to French law, including the French monetary and insurance codes,...more
With the date for the United Kingdom to leave the European Union rapidly approaching, several recent developments concerning derivatives (both legal and political) are likely to be of interest to UK and EU27 counterparties....more
2/13/2019
/ Central Counterparties ,
Cooperation Agreement ,
Derivatives ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Futures ,
Information Sharing ,
ISDA ,
Memorandum of Understanding ,
MiFID II ,
No-Deal Brexit ,
Over The Counter Derivatives (OTC) ,
Regulatory Agenda ,
Regulatory Requirements
L’AFA vient de démarrer une campagne de vérification (contrôle sur pièces) et a d’ores et déjà envoyé un questionnaire à de nombreuses entreprises leur demandant de répondre sous quinzaine à plus de 150 questions afin de...more
Publication du règlement dit « Prospectus » abrogeant la directive Prospectus -
Le 30 juin 2017 a été publié au Journal officiel de l’UE le règlement n° 2017/1129 du 14 juin 2017 concernant le prospectus à publier en cas...more
7/11/2017
/ Banking Sector ,
Counterparty Risk ,
Derivatives ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
France ,
MiFID II ,
Prospectus ,
UK Brexit
Kramer Levin Snapshot est une newsletter bi-mestrielle visant à vous informer de l’activité des avocats de Kramer Levin
tant en matière de publication d’articles que d’animation de conférences. Nous attirons votre attention...more
This alert examines the priorities of the AMF (French SEC) regarding the amended EMIR regulation.
...more
5/15/2017
/ AMF ,
CCPs ,
Derivatives ,
EMIR ,
EU ,
European Central Bank ,
Financial Institutions ,
Financial Markets ,
France ,
Regulatory Standards ,
Reporting Requirements
This alert examines the draft Commission Regulation amending Regulation 648/2012 aka « EMIR Regulation » and Communication from the Commission to the EU Parliament and Council as well as to the European Central Bank.
...more
5/15/2017
/ Central Counterparties ,
Derivatives ,
EMIR ,
EU ,
European Central Bank ,
European Commission ,
Financial Institutions ,
Financial Markets ,
Over The Counter Derivatives (OTC) ,
Regulatory Standards ,
Reporting Requirements
This alert examines the Commission Delegated Regulation (EU) 2017/751 of 16 March 2017 amending Delegated Regulations (EU) 2015/2205, (EU) 2016/592 and (EU) 2016/1178 as regards the deadline for compliance with clearing...more
Jean-Pierre Mattout - La révocation du président pour différend stratégique avec l’actionnaire majoritaire, in Revue des sociétés avril 2017 -
Gilles Kolifrath, Jérôme Blanchet, Mélanie Goupy & Galina Petrova -...more
5/8/2017
/ Banking Sector ,
Commercial Bankruptcy ,
Crowdfunding ,
Equal Pay ,
Expert Witness ,
France ,
H-1B ,
Highly-Skilled Workers Visa ,
Hiring & Firing ,
Immigration Procedures ,
Leveraged Lending ,
New Legislation ,
OPT ,
Political Speech ,
Salary/Wage History ,
Trump Administration
Portées des Q&A des AES -
Le 21 mars 2017 la Commission Européen a lancé une consultation intitulée « Operations of the European Supervisory Authorities ».
...more
5/5/2017
/ Banking Sector ,
ETFs ,
EU ,
Euro ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
France ,
Insurance Industry ,
Member State ,
MiFID II ,
Parent Corporation ,
Referendums ,
Right To Counsel ,
UK ,
UK Brexit
Avec une proportion non négligeable de candidats à la présidence de la France favorables à la sortie de l’Europe ou à la renégociation de certains traités, l’éventualité d’un Frexit au lendemain du Brexit n’a jamais été aussi...more
Banque & Finance –
Hubert de Vauplane - Rapport Terra Nova : Les conflits d'intérêts, nouvelle frontière de la démocratie de février 2017 -
Hubert De Vauplane a été auditionné le 20/03/15 dans le cadre de la...more
3/2/2017
/ Antitrust Provisions ,
Banks ,
BSA/AML ,
Competition ,
Conflicts of Interest ,
Credit ,
Debt ,
Digital Currency ,
Financial Institutions ,
France ,
Overpayment ,
Prepaid Payment Products ,
Terrorism Funding ,
Transparency ,
UK Brexit
La loi n° 2016-1691 relative à la transparence, à la lutte contre la corruption et à la modernisation de la vie économique (dite « Sapin II ») est parue au Journal Officiel le 10 décembre 2016. Elle a vocation, selon le...more
Assurance -
Résiliation d'un contrat d'assurance emprunteur pour cause d'aggravation du risque -
Le Décret n°2016-1559 du 18 novembre 2016 relatif aux conditions de résiliation d'un contrat d'assurance emprunteur...more
1/6/2017
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Commercial Insurance Policies ,
EIOPA ,
EU ,
FATF ,
Financial Institutions ,
France ,
Insurance Code ,
New Regulations ,
Risk Mitigation ,
Sports Injuries ,
Termination Rights