The U.K. Short Selling Regulations 2025 (“SSR 2025”) have been made. This paves the way for the U.K. to repeal and replace the regime implemented while the U.K. was in the European Union and then onshored into U.K. domestic...more
On September 30, 2024, the UK Digital Securities Sandbox was officially declared open. The announcement was made by the Bank of England (BoE) and the UK Financial Conduct Authority (FCA), following the consultation earlier...more
Since the beginning of the Brexit transition period, developments in both the UK and EU have impacted the MiFID rules in various ways.
In the UK, there have been changes under the EUWA on-shoring process; “quick-fix”...more
2022 looks set to be another year dominated by regulatory reform for financial services firms. This document considers a number of key wholesale market developments including the latest on the MiFID Review and other financial...more
A high-level timeline summarising key dates and expected publications for the EU and UK MiFID Review.
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On 1 July 2021, HM Treasury published a consultation paper for its Wholesale Markets Review. The areas considered by HM Treasury in the consultation overlap in certain aspects with those being considered by the EU authorities...more
On 22 October 2020, the European Commission launched a public consultation on the review of the Alternative Investment Fund Managers Directive (the AIFMD Review). The public consultation follows the European Commission’s...more
The Brexit engines at HM Treasury, the FCA, PRA and Bank of England are responding admirably to the challenge posed by Brexit to ensure that the UK has a continuing, robust and effective legal regime once the currently...more
On 20 December 2017, the European Commission published proposals to revise the framework for the prudential regulation of investment firms.
The proposals were anticipated and are an attempt to “ensure that investment firms...more
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The Commodity Futures Trading Commission (CFTC) announced on December 8, 2017 that it is exempting certain "multilateral trading facilities" (MTFs) and "organised trading facilities" (OTFs) regulated in the...more