It is yet unclear if and when the House of Commons will again decide about the Withdrawal Agreement and whether the date for the UK leaving the EU will be changed. Under the current circumstances, a hard Brexit on 29 March...more
FCA Opens Notification Window for Passported EU Firms and Funds under No-Deal Brexit Temporary Permissions Regime - The FCA has announced that the notification window for passported EU ex-UK firms and funds wishing to...more
The House of Commons recently rejected the Withdrawal Agreement. While the UK Parliament is still debating how to leave the EU, a hard Brexit remains an option. To prepare for this possibility, the UK, EU Commission and EU27...more
The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No. 2) Regulations 2017 have been published, and will take effect mainly from January 3, 2018. Some technical provisions will come into force a...more
BROKER-DEALER - FINRA Requests Further Comments on the Effectiveness and Efficiency of Its Payments for Market Making Rule - On November 28, as part a retrospective rule review, the Financial Industry Regulatory...more
In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on SEC’s no action letters and Commission’s FAQs on “hard dollar” research payments under...more
Various industry bodies and regulators, including the Bank of England and Bafin, have recently raised fears that there will be a cliff edge on Brexit for certain types of financial contract, most notably derivatives and...more
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on the updated Q&As published by ESMA in relation to the AIFMD and UCITS, IOSCO's...more
SEC/CORPORATE - SEC Chairman Clayton Makes First Public Speech Outlining His Vision for the Commission - On July 12, in his first major address since becoming Chairman of the Securities and Exchange Commission earlier...more
The UK investment management industry is, from a variety of perspectives, an important industry. With the Brexit clock now ticking, is there huge uncertainty ahead or is the industry largely secure? Can investment managers...more
FCA Publishes Final Rules Removing Certain Ineffective Disclosure Requirements - The FCA published a policy statement on 11 October 2016, removing certain ineffective disclosure requirements from the FCA Handbook...more
SEC Issues New C&DI Relating to Submission of Annual Reports to SEC - On November 2, the Division of Corporation Finance (Division) of the Securities and Exchange Commission issued a new Compliance and Disclosure...more