The European Systemic Risk Board has published a report on its second assessment of implementing actions taken by EU Member State bodies responsible for setting the countercyclical buffer rate, following the ESRB's...more
1. Bank regulation - 1.1 Prudential regulation - The ESRB has published a speech by Christine Lagarde, President of the ECB and Chair of the ESRB, on its first general warning about financial stability risks that it published...more
Welcome to the July – September 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter, such...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
Our monthly regulatory newsletter monitors all relevant developments regarding European regulatory law in English language. ...more
Commission Approves €900 Million German Scheme to Support Investments in Production of Green Hydrogen - The purpose of the scheme entitled “H2Global” is to advance the international market expansion of renewable hydrogen,...more
Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. ...more
Operational resilience: developments in the financial services sector in the UK - In recent years, operational resilience has come under the spotlight of financial regulators globally, leading to a proliferation of new...more
31 December - The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact...more
Performance fees in UCITS and certain types of AIFs: ESMA guidelines - The European Securities and Markets Authority (ESMA) has published the official translations for guidelines on performance fees in UCITS and certain...more
On 27 March 2020, the European Securities and Markets Authority (ESMA) launched a public consultation on its draft guidelines to assess leverage risks in the Alternative Investment Fund (AIF) sector. In particular, ESMA is...more
Recent regulatory developments of interest to all financial institutions. Includes updates on COVID-19, FCA guidance on assessing adequate financial resources, and European Commission draft legislation incorporating...more
Dormant assets scheme: HM Treasury and DCMS consult on expansion - HM Treasury and the Department for Digital, Culture, Media and Sport (DCMS) jointly published on 21 February 2020, a consultation paper on expanding the...more
The European Systemic Risk Board has published a letter (dated February 3, 2020) to the European Commission on the weaknesses of the Alternative Investment Fund Managers Directive. The ESRB is responsible for macro-prudential...more
On 2 September 2019, the European Securities and Markets Authority (“ESMA”) published its final Guidelines on liquidity stress testing in UCITS and AIFs (the “LST Guidelines”). Managers will be required to amend their...more
BREXIT - Please see our article, ‘Can the UK Parliament stop a no-deal Brexit?’ CONDUCT - FCA findings of review into the banking sector’s implementation of SMCR - On 5 August, the FCA published the findings of...more
BREXIT - FMLC paper on issues of legal uncertainty arising in the context of emissions allowances after Brexit On 31 January, the FMLC published a paper identifying issues of legal uncertainty in the context of emission...more
On January 14, the European Parliament’s Economic and Monetary Affairs Committee (“ECON“) published the following reports relating to the European Commission’s legislative proposals to reform the European System of Financial...more
BREXIT - EP updates its in depth-analysis on third country equivalence in EU banking and financial regulation - On 27 September, the EP updated its April 2017 in depth-analysis on third country equivalence in EU banking...more
The European Systemic Risk Board has published a final report setting out proposed amendments to the ESRB Handbook on Operationalising Macroprudential Policy and policy proposals on the legal framework of the systemic risk...more
Insurance Europe publishes papers on avoiding Brexit cliff-edge risks - On 9 February, Insurance Europe published a paper calling for an agreement between the UK and the EU on the transitional arrangements that should...more
On December 15, 2017, the Recommendation of the European Systemic Risk Board (“ESRB“) (ESRB/2017/4) (dated October 20, 2017) amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of, and voluntary...more
On 26 October 2017, the European Parliament voted in plenary session to adopt the EU regulation intended to lay down common rules on securitisation and to create a European framework for “simple, transparent and standardised”...more
On 20 September 2017, the European Commission published a package of measures designed to increase the powers of the three European Supervisory Authorities (ESAs), primarily by transferring certain powers of regulation and...more
OCC Solicits Public Comments on Revising the Volcker Rule - On August 2, 2017, the Office of the Comptroller of the Currency ("OCC") issued a public notice that it is seeking public input on revising the final regulation...more