On March 4, Europe’s second-highest court ruled in favor of the United Kingdom in a long-running dispute with the European Central Bank (ECB) regarding the latter’s right to mandate that central counterparties (CCPs) clearing...more
In this issue:
- Meeting of the SEC Advisory Committee on Small and Emerging Companies
- Financial Action Task Force Publishes Updated List of Deficient Jurisdictions
- CFTC to Host Roundtable on...more
3/9/2015
/ CFTC ,
Cybersecurity ,
Destruction of Evidence ,
EU ,
FATF ,
Foreign Banks ,
Jurisdiction ,
Risk Alert ,
Sarbanes-Oxley ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Volcker Rule
On February 18, the European Securities and Markets Authority (ESMA) published a new consultation paper (CP) on the implementation of the transparency provisions of the revised EU Market in Financial Instruments Directive...more
In this issue:
- CFTC’s Energy and Environmental Markets Advisory Committee To Hold Meeting
- CFTC Announces Members of Market Risk Advisory Committee
- NFA Notifies SDs and MSPs of Annual Questionnaire...more
2/23/2015
/ CFOs ,
CFTC ,
Derivatives ,
Dodd-Frank ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Statements ,
Foreign Exchanges ,
MiFID II ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Stock Sale Agreements ,
UK ,
Whistleblowers
The European Commission (EC) has proposed a further two-year extension beyond the three-year exemption from mandatory clearing of over-the-counter derivatives granted to qualifying pension scheme arrangements (PSAs) under...more
The European Securities and Markets Authority (ESMA) announced on January 12 that it will hold an open hearing on the issues identified in its December 2014 consultation paper and proposed regulatory technical standards...more
On January 8, the European Securities and Markets Authority (ESMA) published its first annual review of the colleges required to be established under Article 18 of the European Market Infrastructure Regulation (EMIR). The...more
In this issue:
- Recent Developments Relating to Rights to Exclude Shareholder Proposals from Proxy Statements
- SEC Approves MSRB Best Execution Rule
- SEC Sanctions Operator of Unregistered Virtual...more
12/15/2014
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Bitcoin ,
Currency Exchange ,
Cybersecurity ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Insider Trading ,
Investors ,
MiFID ,
MSRB ,
Proxy Season ,
Proxy Statements ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
Shareholders ,
Virtual Currency
The European Securities and Markets Authority (ESMA) announced a new consultation to consider revisions to the regulatory technical standards (RTS) and implementing technical standards (ITS) for trade reporting under the...more
On October 30, the European Commission (EC) adopted its first equivalence decision for the regulatory regimes of central counterparties (CCPs) located in four jurisdictions: Australia, Hong Kong, Japan and Singapore. ...more
The European Securities and Markets Authority (ESMA) published the eleventh version of its “Questions and Answers” on EMIR implementation (EMIR Q&A) on October 24. The updated EMIR Q&A responds principally to questions that...more
In this issue:
- ISS Announces Launch of QuickScore 3.0
- SEC Provides Relief to GSEC From Rule 204 Close-Out Requirements
- CFTC Extends Relief to FCMs from Certain Commingling Requirements
-...more
11/3/2014
/ Banks ,
CCPs ,
CFTC ,
Class Action ,
Commingling ,
Commodities ,
Compliance ,
EMIR ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Fixed Income Investments ,
Flood Insurance ,
Foreign Banks ,
Foreign Exchanges ,
Futures Commission Merchants (FCMs) ,
Institutional Shareholder Services (ISS) ,
OCC ,
Risk Retention ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
UK
On October 8, members of the European Parliament’s Committee on Economic and Monetary Affairs voted 45-13 to confirm Jonathan Hill as the new European Commissioner for financial stability, financial services and capital...more
Top US and EU regulators have indicated in the last week a shared desire to agree on a framework for the trans-Atlantic supervision of clearinghouses. ...more
In this issue:
- Council of Institutional Investors Issues Report on Board Evaluation Disclosure
- FINRA Revises Proposal to Adopt Consolidated FINRA Rule 2231
- IRS Considers Whether Management Fees of...more
9/22/2014
/ Broker-Dealer ,
CFTC ,
Corporate Governance ,
Dodd-Frank ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
Institutional Investment ,
IRS ,
Limited Liability Company (LLC) ,
Margin Requirements ,
Swaps
In this issue:
- ISS Launches New Equity Plan Data Verification Portal
- ISDA Publishes Protocol for 2014 Credit Derivatives Definitions
- FinCEN Issues Advisories for US Financial Institutions
-...more
8/25/2014
/ CFTC ,
Class Action ,
Class Certification ,
Compliance ,
Contests & Promotions ,
Derivatives ,
EMIR ,
Equity Plans ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FinCEN ,
Fraud ,
Institutional Shareholder Services (ISS) ,
ISDA ,
Judge Rakoff ,
OCC ,
Rule 10(b) ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
SEFs ,
Social Media ,
Swap Dealers ,
Swaps
On April 9, 2014, the Division of Market Oversight (DMO) and Division of Swap Dealer and Intermediary Oversight (DSIO) (together, the Divisions) of the United States Commodity Futures Trading Commission (CFTC) issued...more
The EU Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive” or “AIFMD”) applies to managers of alternative investment funds (each an “Alternative Investment Fund Manager” or “AIFM”). The main...more
The EU Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive” or “AIFMD”) limits delegation by a manager regulated under the Directive (an “Alternative Investment Fund Manager” or “AIFM”). Delegation by...more
On 14 February 2013, the European Commission (the “Commission”) released draft text for a proposed financial transaction tax Directive (the “Draft Proposal”). If the text is implemented into law a financial transaction tax...more
In the aftermath of the 2008 financial crisis, all of the major political parties in the UK proposed significant change to the system of financial regulation. On election in 2010, the coalition government set out its belief...more