Securities, EU Prospectus Regime

Belgian Financial Services and Markets Authority clarifies the characterisation of crypto-assets

Hogan Lovells on 12/3/2022

By means of a communication dated 22 November 2022, the Belgian Financial Services and Markets Authority (FSMA) has provided clarification of the most common cases where crypto-assets may fall within the scope of the...more

FCA publishes Consultation Paper ahead of new EU Prospectus Regulation

Dechert LLP on 2/6/2019

On 28 January 2019, the United Kingdom’s (the “UK”) Financial Conduct Authority (the “FCA”) published its “Changes to align the FCA Handbook with the EU Prospectus Regulation” consultation paper1 (the “Consultation Paper”)....more

ESMA Clarifies The Application of The Prospectus Directive and Transparency Directive in The Event of a "No-Deal" Brexit

Dechert LLP on 2/4/2019

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

Europe as a Hub for Initial Coin Offerings?

Latham & Watkins LLP on 11/7/2017

Initial coin offerings (ICOs) involve issuers offering virtual coins or tokens that are created and disseminated using blockchain or distributed ledger technology. Virtual coins resemble cash in a number of ways but may also...more

UK Regulator Examines Scope of Securities Laws, Warns of Initial Coin Offering Risks

Jones Day on 9/18/2017

The Situation: The UK Financial Conduct Authority has released a statement on initial coin offerings. It focuses the circumstances in which an ICO might fall within the scope of the FCA's current regulatory boundaries as well...more

Update on the New Prospectus Regime

Dechert LLP on 7/19/2017

As part of its Capital Markets Union action plan, in June 2017 the EU adopted the new Prospectus Regulation (2017/1129), which overhauls the prospectus regime and is intended to improve accessibility to capital markets for...more