A recent report, entitled “A New Vision for Europe’s Capital Markets” (the “Report”), sets out some key recommendations for how the EU securitisation market can be scaled up. The Report has been published by the High Level...more
The Situation: Regulation (EC) No 593/2008 of the European Parliament and of the Council of June 17, 2008, on the law applicable to contractual obligations (Rome I Regulation) does not cover the question of third-party...more
As part of the Capital Markets Union action plan announced in September 2015, the European Parliament and the Council issued on Dec. 12, 2017, the regulation laying down a general framework for securitization and creating a...more
Financial Industry Developments - 2016 Data Breach Legislation Roundup: What to Know Going Forward - States were busy updating their data breach notification statutes in 2016. With 2016 in the rear view, let's take...more
The European Parliament’s Committee on Economic and Monetary Affairs (“ECON”) has today agreed compromise amendments (the “Compromise Amendments”) to the proposed EU regulation intended to lay down common rules on...more
Financial Industry Developments - SEC Adopts Final Rules to Facilitate Intrastate and Regional Securities Offerings - On October 26, 2016, the Securities and Exchange Commission adopted rules designed to modernize...more
Financial Industry Developments - OCC Discusses Marketplace Lending - On September 13, 2016, Comptroller of the Currency Thomas J. Curry discussed marketplace lending's risks and associated policy questions. He...more
Since the Action Plan for a Capital Markets Union (“CMU”) was launched on 30 September 2015, the European Commission (“the Commission”) has initiated a number of CMU initiatives. Notably, building on the CMU’s initial...more
2016 will mark the eighth anniversary of the collapse of Lehman Brothers and the raft of regulatory reforms introduced in the aftermath of that event and the wider financial crisis will continue to be implemented during the...more
We discussed the European Commission’s (the “Commission”) proposal for a regulation (the “Regulation”) intended to harmonise existing EU laws applying to securitisations, including EU risk retention rules, and to create a...more
On 30 September, the European Commission released its Action Plan for a Capital Markets Union (the “Action Plan”). The Capital Markets Union (“CMU”) is one of the key elements of the broader Investment Plan for Europe...more
On September 30, 2015 the European Commission (EC) published a legislative proposal for an EU framework for simple, transparent and standardized securitization. It has also published a legislative proposal for a regulation...more
First Circuit Rules Bankruptcy Code Preempts Puerto Rico's Recovery Act - On Monday, July 6, the Court of Appeals for the First Circuit affirmed the February 6, 2015 order and injunction of the Puerto Rico District Court...more