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ESMA Clarifies Position on Documents Incorporated by Reference in Prospectuses

Following up on its earlier clarification around future incorporation by reference under Regulation (EU) 2017/1129 (the "Prospectus Regulation"), the European Securities and Markets Authority ("ESMA") published its final...more

Developments in Crypto Regulation: DeFi Tax Reporting Repeal and SEC Disclosure Guidance

The Trump administration continues its efforts to relax digital asset regulation, including most recently by exempting decentralized finance ("DeFi") apps and wallets from tax reporting and through Securities and Exchange...more

Regulating Digital Assets: FIT21 Seems to Fit the Bill

The United States lacks a regulatory framework geared toward digital assets. This raises consumer protection concerns, causes regulatory turf battles and duplicative enforcement actions, impedes innovation, and puts the...more

New Exemption to Market Sounding Regime Under the Market Abuse Regulation

The Situation: An exemption to the market sounding regime under the Market Abuse Regulation ("MAR") that became applicable on 1 January 2021, will increase the attractiveness of private placements of bonds by easing...more

How Green Are You? EU Proposes Climate-Related Update to Guidelines on Non-Financial Reporting

The Situation: The European Union continues to roll out its Action Plan for Financing Sustainable Growth with its latest proposal concerning climate-related disclosures and the European Commission's launch of a public...more

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