Elias Allahyari on Financial Services Industry

The UK’s Lighter-Touch, Post-Brexit, Short Selling Regime

The U.K. is currently engaged in a wide-ranging review of the inherited package of EU financial services law. The rules on short selling, which impose disclosure obligations and restrictions on persons seeking an economic...more

12/15/2023 / EU , Financial Conduct Authority (FCA) , Financial Services Industry , Short Sales , Short Selling , UK , UK Brexit

HM Treasury Confirms Approach to Digital Securities Sandbox

Following its consultation earlier this year, HM Treasury has published a response to its consultation on the Digital Securities Sandbox, confirming that it will mostly adopt the approach consulted on to establish the DSS....more

12/13/2023 / Digital Securities , Financial Institutions , Financial Markets , Financial Services and Markets Act , Financial Services Industry , FinTech , HM Treasury , UK

UK Regulatory Guidance on Trading Venue Regulatory Perimeter

The U.K. Financial Conduct Authority has issued final guidance to clarify the scope of the regulatory perimeter for trading venues and the regulatory approvals needed to conduct their business. The guidance caters for new...more

8/9/2023 / Financial Conduct Authority (FCA) , Financial Markets , Financial Services and Markets Act , Financial Services Industry , MiFID II , MiFIR , UK

A Boost for U.K. Financial Services - The U.K. Financial Services and Markets Act 2023

The U.K.’s newest Financial Services and Markets Act of 2023 (“FSM Act”) received Royal Assent on 29 June 2023. Certain parts came into force on its passing, others will come into effect two months after that, and the...more

8/1/2023 / Competition , EU , Financial Conduct Authority (FCA) , Financial Institutions , Financial Regulatory Reform , Financial Services and Markets Act , Financial Services Industry , HM Treasury , Prospectus , Prudential Regulation Authority (PRA) , Securitization , Solvency II , UK

MiFID II and the U.S. Investment Adviser Regime

The issue of how firms should pay for investment research continues to be a controversial topic in the financial markets. The U.S. has maintained the approach it adopted before the mid-2000s, which is to permit investment...more

7/3/2023 / Broker-Dealer , EU , Financial Conduct Authority (FCA) , Financial Institutions , Financial Markets , Financial Services Industry , Investment Adviser , Market Research , MiFID II , Securities and Exchange Commission (SEC) , UK

MiFID II: An Update on the Rules for Unbundling of Research

The issue of how investment research should be paid for by investors is controversial, long-standing and seemingly perennially the subject of legislative iterations, failure and unintended consequence and more reform. Before...more

3/21/2023 / Broker-Dealer , EU , European Securities and Markets Authority (ESMA) , Financial Conduct Authority (FCA) , Financial Services Industry , Investment Adviser , MiFID II

UK Proposals for Cryptoasset Regulation

The U.K. government has published its much-anticipated proposals for regulating the cryptoasset industry. These proposals, currently in the form of a consultation, will see many (but not all) cryptoasset-related activities...more

2/15/2023 / Cryptoassets , Cryptocurrency , Financial Conduct Authority (FCA) , Financial Instruments , Financial Regulatory Reform , Financial Services Industry , FinTech , HM Treasury , Non-Fungible Tokens (NFTs) , UK