FCA bans firms' use of restrictive contractual clauses for future primary market services - On 27 June 2017, the Financial Conduct Authority (FCA) published its Policy Statement PS17/13 'Investment and corporate banking:...more
Charting New and Dangerous Waters - Lloyd George and Epictetus may be long gone but their words have much resonance with the events of 2016. The political fallout from the UK’s vote to leave the European Union (“EU”)...more
The Council of the European Union announced that it had reached an agreement with the European Parliament on prospectuses for the issuing and offering of securities. Finalization of the agreement comes after the provisional...more
The Council of the European Union announced the conclusion of a provisional agreement with representatives of the European Parliament on new rules on prospectuses for the issuing and offering of securities. The draft...more
The European Commission has continued in its drive towards a European Capital Markets Union by proposing measures in the Prospectus Regulation which it hopes will revamp the current prospectus regime. We are told that...more
The Council of the European Union has published a “Presidency proposal for a general approach on …” the Prospectus Regulation....more
The Council of the European Union has published the 5th Presidency Compromise version of the proposed Prospectus Regulation....more
The Council of the European Union has published the 4th Presidency Compromise version of the new Prospectus Regulation. The Prospectus Regulation will replace the Prospectus Directive (2003/71/EC), and the Directive...more
2016 will mark the eighth anniversary of the collapse of Lehman Brothers and the raft of regulatory reforms introduced in the aftermath of that event and the wider financial crisis will continue to be implemented during the...more
In early 2015, the European Commission (Commission) launched the Capital Markets Union (CMU), one of its flagship initiatives, to address its perception that capital markets-based financing in the European Union could be...more
The CMU is intended to strengthen access to public markets in the European Union, particularly for small- and medium-sized enterprises (SMEs). On 30 September, the European Commission (EC) published its action plan...more