The questions from the European Securities and Markets Authority (ESMA) Consultation Papers are below. The questions largely ask for feedback from market participants as to whether...more
10/16/2024
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Anti-Dilution Terms ,
Dual-Pricing ,
European Securities and Markets Authority (ESMA) ,
Fees ,
Investors ,
Liquidity ,
Proposed Rules ,
Settlement ,
USCIS ,
Valuation
Key Points -
The European Commission (“EU Commission”) has published its report on the functioning of the EU Securitisation Regulation which contains the EU Commission’s assessment of a number of key aspects of the...more
12/6/2022
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Capital Requirements ,
Collateralized Loan Obligations ,
Due Diligence ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Information Reports ,
Investors ,
Reporting Requirements ,
Securities Regulation ,
Securitization
As previously notified, the European Commission has revised rules to permanently lower the initial net short position reporting threshold from 0.2 per cent to 0.1 per cent under the EU Short Selling Regulation (EU SSR) and...more
The European Commission has published rules to permanently lower the initial net short position reporting threshold from 0.2 per cent to 0.1 per cent under the EU Short Selling Regulation (EU SSR). The lower disclosure...more
The European Commission has revised rules to permanently lower the net short position reporting threshold from 0.2 per cent to 0.1 per cent under the EU Short Selling Regulation (“EU SSR”). The net short position notification...more
The European Securities and Markets Authority (ESMA) published on 23 July 2021 the guidance provided by the European Commission (EC) in response to a number of questions posed by the European Supervisory Authorities (ESAs) in...more
1. Overview The new rules on the promotion of funds introduced by the new Cross-Border Distribution of Collective Investment Undertakings Directive and Regulation (Cross-Border Distribution of Funds (CBDF) Rules) are due to...more
6/29/2021
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Cross-Border ,
EU ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Investment Management ,
Investors ,
Marketing ,
Member State ,
National Private Placement Regimes (NPPR)
The European Securities and Markets Authority (ESMA) has announced that the temporary lower net short position reporting threshold of 0.1 percent under the EU Short Selling Regulation (SSR) with respect to shares traded on an...more
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have published a Consultation Paper1 with proposed changes to the secondary rules regarding margin requirements applicable to non-centrally...more
On 27 January 2021, the European Commission adopted an equivalence decision determining that the legal and supervisory arrangements applicable to US central counterparties (CCPs) registered with the Securities and Exchange...more
In response to the unprecedented circumstances caused by the COVID-19 pandemic, the EU and the UK temporarily lowered the reporting threshold under the EU Short Selling Regulation (“EU SSR”) for net short positions in shares...more
On 27 March 2020, the European Securities and Markets Authority (ESMA) launched a public consultation on its draft guidelines to assess leverage risks in the Alternative Investment Fund (AIF) sector. In particular, ESMA is...more
On 5 June 2020, the European Securities and Markets Authority (ESMA) published its final guidelines on certain aspects of the recast Markets in Financial Instruments Directive (MiFID II) compliance function requirements (the...more
On 3 June 2020, the European Securities and Markets Authority (ESMA) published two Opinions clarifying how European Union investment firms trading financial instruments on third-country trading venues (TCTVs) should, from 3...more
Derivatives reporting responsibilities under the European Market Infrastructure Regulation (EMIR) will change from 18 June 20201, as (i) alternative investment fund managers (AIFMs) will become responsible for reporting for...more
6/16/2020
/ Alternative Investment Funds ,
Derivatives ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
ISDA ,
Non-Financial Counterparties (NFC) ,
Over The Counter Derivatives (OTC) ,
Regulatory Requirements ,
Reporting Requirements ,
Special Purpose Vehicles ,
UK Brexit
On 10 June 2020, the European Securities and Markets Authority (ESMA) renewed its decision to temporarily require holders of net short positions in shares traded on a European Union regulated market to notify the relevant...more
On 18 May 2020, the European Securities and Markets Authority (ESMA) announced the non-renewal of the emergency restrictions on short selling and similar transactions by the Finanzmarktaufsicht (FMA) of Austria, the Financial...more
The European Securities and Markets Authority (ESMA) has confirmed the renewal of the emergency restrictions on short selling and similar transactions by the Finanzmarktaufsicht (FMA) of Austria, the Financial Securities and...more
4/17/2020
/ AMF ,
Austria ,
Belgium ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Instruments ,
Financial Markets Authority (FMA) ,
France ,
FSMA ,
Greece ,
Short Selling ,
Spain
The Financial Conduct Authority (FCA) has confirmed that it has adjusted its systems to facilitate reporting in accordance with the decision of the European Securities and Markets Authority (ESMA) of 16 March 2020 to...more
Further bans on all types of short selling have been extended by financial regulators in Austria, Belgium, France, Greece, Italy and the UK (in respect of the shares identified by the Spanish and Italian regulators) and now...more
3/19/2020
/ AMF ,
Capital Markets ,
CONSOB ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Financial Markets ,
Financial Markets Authority (FMA) ,
FSMA ,
Short Selling
Following on from Friday’s temporary prohibitions on short selling, Belgium, France, Italy, Spain and the U.K. have announced temporary prohibitions on short selling of specified shares exercising the exceptional powers...more
The European Securities and Markets Authority (ESMA) has yesterday, March 16, 2020, issued a decision to temporarily lower the net short position notification threshold under the European Union Short Selling Regulation from...more
The new European Union rules requiring reporting by fund managers of securities financing transactions (SFT) take effect on October 11, 2020. While the scope of the reporting requirements under Article 4 of the Securities...more
1/23/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Legal Entity Identifiers ,
New Rules ,
Reporting Requirements ,
Securities Financing Transactions (SFTs) ,
SFTR ,
Third Country Entities (TCEs) ,
UCITS
Legislative reform to the European Market Infrastructure Regulation (EMIR) has now been finalised and the changes are expected to take effect in or around June 2019. The EMIR Refit, as the reform is known, amends the scope of...more
In the 2018 edition of this publication, we ended the introduction with the line, “We can only hope that we will enter 2019 with greater certainty than 2018 as to how the regulatory landscape will look.” Unfortunately,...more
1/31/2019
/ Amended Regulation ,
Asset Management ,
Banking Sector ,
Benchmarks ,
Broker-Dealer ,
Compensation Agreements ,
Cybersecurity ,
Data Protection ,
Data Security ,
EMIR ,
Enforcement ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Infrastructure ,
Libor ,
Market Abuse ,
Market Infrastructure ,
Securities Financing Transactions (SFTs) ,
SMCR ,
Sustainability ,
UK Brexit