The European Securities and Markets Authority has published a final report and guidelines on reporting under the Securities Financing Transaction Regulations, together with amended SFTR validation rules and a statement on...more
There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...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
On 30 March 2017, the German Parliament (Bundestag) finally approved a complete revision of the German Securities Trading Act (Wertpapierhandelsgesetz) as part of the Second Financial Markets Reform Act (2....more
The Ministry of Finance in Germany has just concluded a consultation for a 379-page draft bill for the Second Financial Markets Reform Act (Zweites Finanzmarktnovel-lierungsgesetz) (the “Act”) that aims to transpose, amongst...more
Regulatory context - The regulation on transparency of securities financing transactions and of reuse (the “Regulation”) stems from a belief that the 2007-08 global financial crisis revealed excessive speculative...more