With 2023 marking a significant global market slowdown, many IPO candidates have suspended or postponed their plan. Only six initial public offerings (IPOs) have been successful in France in 2023, raising a total of about...more
On November 30, 2023, the Autorité des marchés financiers (AMF), the organization that oversees Québec’s financial industry, published a draft Climate Risk Management Guideline (the Guideline) which will apply to licensed...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
On January 13, 2022, the Ontario Securities Commission (OSC) announced that it and Quebec’s Autorité des marchés financiers (AMF) have entered into an amended Memorandum of Understanding (MOU) with the European Securities and...more
Securities laws across France, Germany and the United Kingdom are widely comparable. Each country recognises the importance of maintaining a strong procedural framework of regulation and enforcement. The EU Market Abuse...more
The Autorité des marchés financiers (“AMF”) recently released a draft version of its Incentive Management Guideline (“Draft Guideline”), which applies to Québec-regulated insurers, financial services cooperatives, trust...more
A number of regulators across the globe responded to recent market volatility by introducing temporary short selling bans and/or market restrictions. Such bans have since expired as of 18 May 2020. Other regulators (including...more
To mitigate the risks faced by French financial markets during this unprecedented period of disruption caused by the COVID-19 pandemic, the French Financial Markets Authority (AMF) announced on April 15, 2020, that it will...more
The European Securities and Markets Authority (ESMA) has confirmed the renewal of the emergency restrictions on short selling and similar transactions by the Finanzmarktaufsicht (FMA) of Austria, the Financial Securities and...more
- On January 30, 2020, the World Health Organization (WHO) has qualified the Covid-19 epidemic as a “global public health emergency”. - On March 3, 2020, French Minister of Economy and Finance Bruno Le Maire, pronounced a...more
Further bans on all types of short selling have been extended by financial regulators in Austria, Belgium, France, Greece, Italy and the UK (in respect of the shares identified by the Spanish and Italian regulators) and now...more
The AMF has published a report containing a number of new proposals relating to production of research under MiFID II. Key Points: ..The report pointedly criticises the original MiFID requirements (most of which were...more
Patents Granted to Blockchain Payments Firms, Crypto Mining Expands in Texas and Russia - Last month, a U.S. patent was reportedly granted to a major U.S. cryptocurrency exchange for a new system that would allow users to...more
How to stay ahead of the curve, minimize future costs of compliance and feed the growing demand from investors for responsible products and services - Environmental, social and governance (ESG) investing is accelerating...more
The French Financial Markets Authority ("AMF") has just carried out a complete overhaul of its doctrine on Anti-Money Laundering/Combating the Financing of Terrorism ("AML/CFT") and published its new guidelines setting out...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
La carte de vœux de la Commission des sanctions de l’AMF aux distributeurs de produits financiers - (Où la Commission des sanctions fait le catalogue des préoccupations actuelles du régulateur)....more
The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e - newsletter, which offers a legal and regulatory update covering France and Europe for October / November 2018. ...more
The Corporate Finance Division of Quebec’s Autorité des marchés financiers (AMF) recently released its annual Summary of Oversight and Regulatory Activities (Report). In addition to providing a snapshot of the Quebec capital...more
The regulatory focus on initial coin offerings (ICOs) in France continues unabated, with the French Treasury proposing a new legislative framework, yet to be officially adopted, that aims to balance the development of ICO...more
On 26 October 2017, France’s Financial Markets Authority, the “Autorité des Marchés Financiers” (“AMF”), published a discussion paper focusing on initial coin offerings (“ICOs”) that highlights the (many) dangers that arise...more
During the last decade, negative interest rates have raised concerns in the European debt capital markets landscape. Prospectuses often allow the issuance of debt securities for which the interest rate is linked to indexes...more
The Situation: French investors continue to show interest in initial coin offerings. The Result: The French Financial Market Authority has launched a public consultation to assess whether ICOs might fall within the scope...more
The Corporate Finance Division of Quebec’s Autorité des marchés financiers (AMF) recently released its first Summary of Oversight and Regulatory Activities (Report), which provides general information and reminders about...more
This alert examines the priorities of the AMF (French SEC) regarding the amended EMIR regulation. ...more