Prospectus Regulation - ESMA publishes Final Report on prospectus disclosure guidance to replace CESR Recommendations - Background - On 15 July 2020, ESMA published its Final Report1 on guidelines for disclosure...more
The European Securities and Markets Authority has published a statement calling for transparency in the half-year financial reports of EU-listed issuers. The statement focuses on interim financial statements that need to be...more
27 May - The Financial Conduct Authority (“FCA”) published a new webpage that explains that it is allowing firms to defer individuals' uncompleted continuing professional development (“CPD”) hours to the next CPD year in...more
On May 20, 2020, the European Securities and Markets Authority issued a public statement on the impact of the COVID-19 pandemic on the half-yearly financials of listed issuers. In particular, ESMA addressed the preparation of...more
A draft version of the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment etc and Transitional Provision) (EU Exit) Regulations 2020 has been published, together with an explanatory...more
3 October - The Prudential Regulator Authority (PRA) published a policy statement on strengthening accountability in banking and changes to senior managers regime (SMR) forms. The changes to the SMR forms will become live on...more
BREXIT - Brexit - EU (Withdrawal) Bill published - On 13 July, the DExEU published the European Union (Withdrawal) Bill (Bill), which: (i) repeals the ECA 1972; (ii) converts EU law into UK law where appropriate; and...more
CAPITAL MARKETS AND MARKET INFRASTRUCTURE - See Recovery and Resolution section for an update on CCP recovery and resolution. FCA makes available draft forms for benchmark administrators - On 6 July, as part of their...more
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates. ...more
The European Securities and Markets Authority issued a public Statement on the implementation of IFRS 9. The purpose of the Statement is to promote consistent application of European securities and markets legislation, and...more
Rating Agency Developments - On January 25, 2016, DBRS updated its methodology for rating Subscription Loans (Capital Call). Report. On January 21, 2016, Fitch updated its U.S. RMBS Master Rating Criteria. Report. ...more
The Federal Housing Administration Announces New Loan Limits for 2016 - On December 9, 2015, the Federal Housing Administration ("FHA") announced its schedule of loan limits for the 2016 calendar year. The new schedule,...more
SEC/CORPORATE SEC Commissioner Piwowar Speaks at Current Financial Reporting Issues Conference - On November 16, Securities and Exchange Commissioner Michael Piwowar addressed the 34th Annual Current Financial Reporting...more
The European Securities and Markets Authority (ESMA) has published extracts from the European Enforcers Coordination Sessions confidential database of enforcement decisions on financial statements. European Enforcers monitor...more
The Restructuring Mid-Summer Review: Europe and the Emerging Markets - For those focused on the debt restructuring market, the Greek sovereign crisis (covered extensively in our recent updates1) has drowned out news of...more