The Beneficial Ownership Transparency Act, 2023 (the “BOT Act”) is now in force. The BOT Act was gazetted in December 2023 and was brought into force on 31 July 2024 by the BOT Act Commencement Order. The new Beneficial...more
Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more
2023 was an active year for the Cayman Islands regulatory industry. While we have endeavoured to keep you updated throughout the year with our Regulatory & Risk Advisory Reviews, our team has highlighted below the key changes...more
Groundbreaking employment legislation for contract worker rights in New Jersey (NJ) is now law. NJ is the first US state to mandate equal pay for temporary workers, followed closely by Illinois. Effective August 5, the...more
On July 5, the European Parliament approved the final draft text of the EU Digital Services Act (DSA), a landmark law that will transform the EU’s legal framework for regulating online content. The Council is expected to...more
Die EU-Kommission hat ihre aktuelle Strategie zur Finanzierung des Übergangs in eine nachhaltige Wirtschaft vorgestellt. Finanzmarktteilnehmer müssen mit einer Ausweitung und Verschärfung der bereits erlassenen bzw. in Arbeit...more
The European Securities and Markets Authority has published amended Guidance for national regulators on the enforcement of financial information that issuers listed on regulated markets are required to publish under the EU...more
Post-crisis commercial mortgage-backed securities ("CMBS") issuance in Europe has been on the slow-burner with only a handful of transactions each year. The year 2018 saw European "CMBS 2.0" experience something of a revival...more
The European Securities and Markets Authority published a document listing the thresholds below which an offer of securities to the public does not need a prospectus in the various Member States of the EU...more
In a series of votes on 29 January 2019, the parliament of the United Kingdom (the “UK”) rejected proposals aimed at preventing the UK from leaving the European Union (the “EU”) on 29 March 2019 without a Withdrawal Agreement...more
On 31 January 2019, the European Securities and Markets Authority (“ESMA”) published an Opinion (the “Opinion”) containing a revised set of draft disclosure technical standards (the “Disclosure Technical Standards”) and a...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
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
In data 23 dicembre 2016, Banca d'Italia ha integrato il regolamento sulla gestione collettiva del risparmio (il "Regolamento") con cui, inter alia, viene data attuazione all'art. 46-ter del d.lgs. n. 58/1998 ("TUF"),...more
The Luxembourg Stock Exchange (the LuxSE) has implemented changes to its Rules and Regulations (the Rules) to adapt them to new practices and requirements of the market and its operators, as well as to bring the Rules into...more
On October 1, 2015, the German Parliament adopted the national “Act Implementing the EU Transparency Directive Amending Directive (2013/50/EU)” (the “Act”). The aim of the directive is to harmonize the regime for notification...more
Implementation of the European Transparency Directive 2013/50/EU in Germany - All market participants investing in German stocks and other equity shares with voting rights traded on an exchange will be subject to new...more