Nota Bene Episode 104: European Q4 Check In: Brexit, Digital Platform Regulation, and National Security Regulation with Oliver Heinisch
Nota Bene Episode 81: European Check In: How the EU is Dealing with the Pandemic’s Economic Fallout with Oliver Heinisch
Q&As for UK Regulated Firms - Although the general election result has provided some certainty in relation to what happens next from a Brexit perspective, there are still many outstanding questions. In addition, a large...more
1 November - The Prudential Regulation Authority ("PRA") published a Dear CEO letter in relation to the reliability of regulatory returns. Firms are expected, if asked, to be able to respond promptly to a request from...more
The U.K. Financial Conduct Authority has published a Policy Statement, final Technical Standards and changes to the Handbook rules on strong customer authentication and common and secure open standards of communication to be...more
This note sets out at a high level the potential impact of the United Kingdom’s (“UK”) exit (“Brexit”) from the European Union (“EU”) without a negotiated agreement on UK and European Economic Area (“EEA”) (a) alternative...more
The European Securities and Markets Authority has issued four public statements on its preparations for a no-deal Brexit in the event the U.K. fails to agree a deal with the EU or extend the Brexit deadline before October 31,...more
2 September - The Financial Conduct Authority ("FCA") updated its webpage relating to its guidance consultation on the fair treatment of vulnerable customers. The European Securities and Markets Authority ("ESMA")...more
The Hogan Lovells’ Corporate Insurance Newsletter for September has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more
The U.K. Financial Conduct Authority has published a press release announcing that it is stepping up its efforts to assist firms to prepare for a no-deal Brexit...more
A U.K. statutory instrument has been published to onshore the EU Prospectus Regulation in the event of a no-deal Brexit. In preparing for an April Brexit, the U.K. had onshored the EU Prospectus Directive in the Official...more
This publication maps out key current areas of legal or regulatory change that are of specific relevance for institutional asset managers. These focus areas are arranged thematically, by those that affect managers or...more
BREXIT - Please refer to the Payment Services and Payment Systems section for an update regarding the operational implications of a “no-deal Brexit” on SCT and SDD transactions. ...more
BREXIT - ECB on no-deal Brexit - On 28 August, the ECB published the transcript of an interview (dated 15 August) with by Andrea Enria, Supervisory Board Chair of the ECB. In the interview, among other things, Mr Enria...more
Following concerns regarding its March 19, 2019 statement, the European Securities and Markets Authority has published a revised statement on the impact of a no-deal Brexit on the trading obligation for shares where no...more
BROKER-DEALER - Nasdaq Proposes Rule Change to SEC to Assume Operational Responsibility for Certain Investigation and Enforcement Functions Currently Performed by FINRA - On April 3, the Securities and Exchange...more
On March 21, the Financial Conduct Authority (FCA) published a speech given by Nausicaa Delfas, FCA Executive Director of International, on Brexit. Among other things, in her speech, Ms. Delfas explains that all of the...more
BROKER-DEALER - FINRA Issues Guidance on FOCUS Reporting for Operating Leases - On March 19, the Financial Industry Regulatory Authority, Inc. (FINRA) released Regulatory Notice 19-08 to provide guidance to members for...more
AIFMD – ESMA issues draft guidelines on liquidity stress testing in UCITS and AIFs - On February 5, ESMA issued a consultation paper on issuing liquidity stress test guidance for investment funds. The draft guidelines aim...more
BROKER-DEALER - SEC Chairman Clayton and Trading and Markets Director Redfearn Call for a Reassessment of Regulation NMS - On March 8, US Securities and Exchange Commission chairman Jay Clayton and director, Division...more
The events surrounding the Brexit negotiations continue to be in a state of flux - but we do have some clarity around the status of the Prospectus Regulation in the UK whatever the outcome of the UK Government's negotiations...more
In the middle of February 2019, Brexit continues to be debated between Westminster and Brussels, despite the rapidly approaching deadline for the United Kingdom (U.K.) to leave the European Union (EU) on March 29, 2019. With...more
With the date for the United Kingdom to leave the European Union rapidly approaching, several recent developments concerning derivatives (both legal and political) are likely to be of interest to UK and EU27 counterparties....more
The Luxembourg government has proposed legislation (Draft Bill), which would allow UK financial service providers to continue rendering certain services in Luxembourg for a period of up to 21 months after the date when the UK...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
HM Treasury published guidance on 8 January 2019 for financial services institutions in a no-deal Brexit situation, updating HM Treasury’s 23 August 2018 technical notice on the financial services regulatory framework in the...more
This alert is relevant in the context of a ‘no-deal’ Brexit only, although affected firms and fund managers may have to take certain actions before it is certain whether there will be a ‘no-deal’ Brexit. ...more