The U.K. Financial Conduct Authority has written to the CEOs of benchmark administrators that it supervises. In the letter, the FCA sets out its supervisory strategy as well as the potential harms that benchmark...more
The FCA has published a second consultation on the Brexit onshoring project. Like the first, and many other Brexit onshoring documents, it is both long and very technical. However, a number of important policy points are...more
BROKER-DEALER - SEC Releases Statement on Expiration of Tick Size Pilot - On September 10, the Securities and Exchange Commission announced the early expiration of its Tick Size Pilot Program. Under the program, the...more
Many EU and U.K. financial institutions have been waiting with bated breath for (and commencing their contingency plans without) a clear picture of what post-Brexit U.K.-EU financial services will look like. In this note we...more
BROKER-DEALER - FINRA Encourages Firms To Disclose Activities Related to Digital Assets - On July 6, the Financial Industry Regulatory Authority published Regulatory Notice 18-20, which encourages member firms to...more
SEC/CORPORATE - Delaware State Bar Association Council Releases Proposed Amendments to the Delaware General Corporation Law - The Corporate Council of the Corporation Law Section of the Delaware State Bar Association...more
In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
On 23 June 2016, the UK shocked the world, and perhaps itself, when it voted in favour of a “Brexit” from the European Union. While the referendum result has brought significant uncertainty to the financial services sector,...more