Podcast: ESMA Report: Undue Pressure on Companies
On 14 December 2023, the Central Bank of Ireland (the "Central Bank") published its industry letter on asset valuation (the "Industry Letter"), following on from ESMA's final report on its 2022 common supervisory action on...more
This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more
The European Securities and Markets Authority has opened a consultation in which it proposes to amend the requirements on EU CCPs relating to an additional charge related to the procyclicality of margin. Responses to the...more
MiFID II introduced obligations to record telephone conversations and any electronic communications that are intended to lead to a transaction. Records must be kept for at least five years. The COVID-19 pandemic, which...more
Our weekly update on key regulatory topics affecting the financial services sector....more
UK SFTR: FCA update on reporting LEIs - The Financial Conduct Authority (FCA) has updated its webpage on the retained EU law version of the Regulation on reporting and transparency of securities financing transactions ...more
BROKER-DEALER - SEC Issues Amendments, Seeks Public Comment on Holding Foreign Companies Accountable Act - On March 24, the Securities and Exchange Commission adopted interim final amendments to implement...more
26 February - HM Treasury published a report setting out the findings of the Kalifa Review of UK FinTech. The Financial Conduct Authority (“FCA”) published Handbook Notice 85, which sets out changes to the FCA Handbook...more
Brexit - Please see our Brexit financial services webpage, which contains, amongst other things, tables detailing Brexit statutory instruments, equivalence decisions, EEA transitional regimes and UK regulators’...more
UK-EU trade and cooperation agreement After extensive negotiations, and within a week of the Brexit transition period ending on 31 - December 2020, the UK and the EU finally announced on 24 December 2020 that they had agreed...more
UK Short Selling Regulation: notification threshold - HM Treasury has announced that it intends to lay a statutory instrument under the retained EU law version of the Short Selling Regulation (UK SSR) amending the initial...more
This newsletter provides a snapshot of the principal U.S. and selected international governance and securities law developments during the third quarter of 2020 that may be of interest to Latin American corporations and...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
This edition of the Primary Market Bulletin includes an update on the implementation of the European Single Electronic Format, COVID temporary policy measures on corporate reporting and a reminder for issuers and their...more
ISDA 2020 IBOR Fallbacks Protocol - The International Swaps and Derivatives Association, Inc. (ISDA) has published the ISDA 2020 IBOR Fallbacks Protocol. Our separate client alert, ISDA 2020 IBOR Fallbacks Protocol: What...more
In this newsletter, we provide a snapshot of the principal European, U.S., U.K. and selected international governance and securities law developments of interest to European corporates. ...more
The European Commission has published a Communication on its EU retail payments strategy for the coming years. The payments sector has experienced significant change in recent years. Retail payments are increasingly...more
The European Central Bank has published a Decision in the Official Journal of the European Union temporarily excluding certain central bank exposures from significant Eurozone banks' leverage ratio calculations for the...more
BROKER-DEALER - FINRA Requests Comment on Proposed Proceeding Rule for Failures to Comply With Qualification Examinations Rules of Conduct, Registration Requirements and Eligibility Proceedings Rules - On September 22,...more
COVID-19: phased ending of FCA temporary relief extending deadlines for publishing fund reports and accounts - On 9 September 2020, the UK Financial Conduct Authority (FCA) updated its COVID-19-related webpage on...more
Open-ended funds: FCA and BoE review survey on liquidity mismatch - On 26 August 2020, the UK Financial Conduct Authority (FCA) updated its COVID-19 webpage to announce that it has launched a joint survey with the Bank of...more
The European Securities and Markets Authority has announced that it is preparing new Regulatory Technical Standards to further postpone the securities settlement discipline rules under the Central Securities Depositories...more
CFTC - CFTC Warns Customers About Precious Metal Schemes - On August 4, the Commodity Futures Trading Commission’s Office of Customer Education and Outreach (the OCEO) issued a Customer Advisory regarding suspicious...more
Title transfer collateral arrangements: FCA Dear CEO letter - The UK Financial Conduct Authority (FCA) has published a Dear CEO letter to firms acting as brokers in wholesale financial markets, who currently, or may in the...more
COVID-19: FCA guidance consultation on cancellations and refunds - On 31 July 2020, the UK Financial Conduct Authority (FCA) published a guidance consultation on cancellation (for example, of holidays and events) and...more