Speed Reader: FIA Europe’s Simon Puleston Jones making his way through MiFID II
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: 2024 list of global systemically important banks - Status: Final - The FSB has published a 2024 list of global systemically...more
Of particular note this week in the EU, the Council adopted the legislative package to strengthen market data transparency which includes changes to the EU’s trading rules on market data, payment for order flow and commodity...more
In our annual financial services Horizon Scanning webinar, our regulatory team provided an overview of upcoming and expected changes for UK firms. Partners from our UK team considered regulatory updates on the horizon for...more
Hailed as a landmark piece of legislation and a once in a generation reform to the UK financial services sector, the new Financial Services and Markets Act 2022-2023 which received Royal Assent on 29 June 2023 aims to bolster...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
DvP clients: FCA and PRA Dear CRO letter on counterparty credit exposure management and controls - The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have published a letter to chief risk...more
Draft Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021 A draft version of the Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021...more
This week’s update includes, among other key items, the FSB’s report on its evaluation of the effects of too-big-to-fail reforms for systemically important banks. This report, alongside the FSB’s report on Covid-19 support...more
LIBOR transition: FCA and BoE encourage switch to SONIA in sterling non-linear derivatives market - The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published a joint statement announcing that they...more
Brexit and Debt Capital Markets transactions: some practical perspectives -Following the end of the Brexit transition period, debt capital markets participants may now need to consider both EU rules and the parallel UK rules...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
EMIR: ESMA report on post-trade risk reduction services - The European Securities and Markets Authority (ESMA) has published a report on post-trade risk reduction (PTRR) services under the European Market Infrastructure...more
Brexit: ESMA to recognise three UK CCPS from 1 January 2021 - The European Securities and Markets Authority (ESMA) has announced that three central counterparties (CCPs) established in the UK will be recognized as...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
Recent regulatory developments of interest to financial institutions and markets. Includes updates on MiFIR open access regime for trading and clearing ETDs and various ESMA Q&A updated....more
BREXIT - FMLC paper on Brexit and impact of WTO rules on financial services - On 22 December 2017, the FMLC published a paper on the potential impact of Brexit and WTO rules on financial services. The paper focuses on...more
BREXIT - European Commission legislative proposal for Regulation on relocation of EBA - On 29 November, the EC adopted a legislative proposal for a Regulation containing amendments to the EBA Regulation (Regulation...more
Financial Industry Developments - FHFA Announces $5.5 Billion Settlement With Royal Bank of Scotland - On July 12, 2017, the Federal Housing Finance Agency ("FHFA"), as conservator of Fannie Mae and Freddie Mac,...more
The process of Brexit will take many years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all of our offices, and...more
For many years, the European Union’s single market directives have allowed City of London firms to ‘passport’ their services across the European Economic Area (‘EEA’) and operate out of other member states without the need to...more
SEC/CORPORATE - SEC Division of Corporation Finance Issues 12 New and Revised C&DIs Regarding Non-GAAP Measures - As noted in the May 13 edition of Corporate and Financial Weekly Digest, SEC Chair Mary Joe White,...more