As a response to member feedback relating to the COVID-19 pandemic and following a period of consultation with its members beginning in 2022, the International Swaps and Derivatives Association (ISDA) has published a number...more
9/7/2023
/ Commodities ,
Coronavirus/COVID-19 ,
Credit Support Annex (CSA) ,
Default ,
Derivatives ,
Email ,
Force Majeure Clause ,
ISDA ,
ISDA Master Agreement ,
New Amendments ,
Notice Requirements ,
Structured Financial Products ,
Termination ,
UK
Pension funds and entities with in-scope intragroup OTC derivative transactions will be able to continue to rely on the temporary exemptions from clearing and/or margining requirements under UK EMIR, following the publication...more
On 26 January 2023, the International Swaps and Derivatives Association, Inc. (ISDA) published new standard documentation for the trading of digital asset derivatives (the Digital Asset Definitions), and a whitepaper titled...more
In Grant & Ors v FR Acquisitions Corporation (Europe) Ltd & Anor (Re Lehman Brothers International (Europe)) [2022] EWHC 2532 (Ch), the English High Court ruled on an application for directions (the “Application”) made by the...more
On 7 December 2022, the European Commission (the Commission) published a proposal including amendments to EMIR (EMIR 3).
The Commission identified various concerns, including around “excessive reliance of EU financial...more
In this client alert we set out some of the key lessons from the recent judgment in ABT Auto Investments Ltd v Aapico Investment Pte Ltd [2022] EWHC 2839 (Comm), which considers the validity of appropriation as an enforcement...more
A recap of the key updates to the regime established by Regulation (EU) No 648/2012 of the European Parliament and of the Council of July 4, 2012 on OTC derivatives, central counterparties, and trade repositories (the...more
5/18/2021
/ AIFs ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Exemptions ,
Financial Counterparties (FC) ,
Insolvency ,
Non-Financial Counterparties (NFC) ,
Pension Schemes ,
Popular ,
Reporting Requirements ,
UK Brexit
In this issue of Structured Thoughts, we discuss:
..European Commission consultation on EU benchmark regulation
..FINRA: Suitability and sales practices remain an issue
..SEC charges Switzerland-based dealer for selling...more
2017 in the UK and the rest of Europe seems to have been primarily a year devoted to implementation – both of political decisions already made and of legislation that had already been enacted. On the political front, Brexit...more
2/5/2018
/ Bank Recovery and Resolution Directive (BRRD) ,
Blockchain ,
Capital Markets ,
EMIR ,
EU ,
Initial Coin Offering (ICOs) ,
MiFID II ,
MREL ,
Ring-Fencing ,
Shadow Banking ,
TLAC ,
UK ,
UK Brexit ,
Virtual Currency
Structured Product Red Herrings: Rule 433 and Rule 424(b) -
Red herrings for most offerings of structured products registered with the Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as...more
LIBOR: The End Game -
Since the announcement on July 27, 2017 by the UK Financial Conduct Authority (the FCA) that the LIBOR rate would be phased out after 2021, much has been written about the complications of switching...more
9/27/2017
/ Broker-Dealer ,
ETFs ,
EU ,
European Economic Area (EEA) ,
Financial Industry Regulatory Authority (FINRA) ,
Fraud ,
Key Information Document (KIDs) ,
Libor ,
NASAA ,
Prospectus Regulation (PR3) ,
Regulation M ,
Structured Financial Products
The UK’s Financial Conduct Authority (“FCA”) published a “Dear CEO” letter on 28 February 2017 that requires urgent action from firms which operate a loan-based crowdfunding platform that facilitates loans to lending...more