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EU Omnibus Package Published: CSRD and CS3D to Be Delayed and Scaled Back

The European Union published its long-awaited "Omnibus" package, proposing to delay key European ESG rules, while simultaneously reducing the applicability and burden of corporate sustainability reporting and due diligence...more

Negative Interest Rates: Autorité des Marchés Financiers Takes Position on Information to be Included in Bond Prospectuses,...

During the last decade, negative interest rates have raised concerns in the European debt capital markets landscape. Prospectuses often allow the issuance of debt securities for which the interest rate is linked to indexes...more

ESMA Issues Technical Advice on Format and Content of Prospectuses: Focus on Proposed Deletion of Requirement to Include...

As noted above, the new Prospectus Regulation entered into force on 20 July 2017. Following a request for technical advice from the European Commission, the European Securities and Markets Authority ("ESMA") has published...more

Tesco to Pay Compensation of £85 m and Further Fine of £129 m for Market Abuse

On 28 March 2017, the FCA announced that Tesco plc and Tesco Stores Limited ("Tesco") had agreed to committing market abuse in relation to a trading update published on 29 August 2014. In that update, Tesco plc had stated...more

FCA Publishes Two Papers on the Effectiveness of UK Primary Markets

In the FCA's 2016/2017 Business Plan, one of the FCA's main priorities was to carry out a review of the structure of the United Kingdom's primary markets in order to ensure that they continue to serve the needs of both...more

FCA Announces Review on Availability of Information Before IPO

May 2017 On 1 March 2017, the FCA published a consultation paper proposing a number of policies aimed at improving the information made available to investors during the initial public offering ("IPO") process. The paper also...more

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