In This Issue:
- What to Expect in 2015
- EU Regulatory Agenda: Into 2015
- FINRA Issues Report Relating to its Communication Rules
- Structured Product Offerings and RIAs
- The SEC, Investment Funds and...more
12/24/2014
/ Banking Sector ,
Banks ,
Derivatives ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Investment Adviser ,
Investment Funds ,
Securities and Exchange Commission (SEC) ,
Structured Financial Products
In This Issue:
- Key Regulators Speak at Structured Products Conference
- FINRA Shows Its CARDS; It Will Use Big Data to Review Suitability of Complex Products Sales
- FINRA’s Proposed Bond Mark-up...more
12/2/2014
/ Advertising ,
Big Data ,
Broker-Dealer ,
CARDS ,
Disclosure Requirements ,
Exchange-Traded Products ,
Financial Industry Regulatory Authority (FINRA) ,
Regulatory Agenda ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Structured Financial Products
In This Issue:
- Index Changes and Successor Indices: Avoiding Delisting From The NYSE Arca
- EU PRIIPS Regulation Expected to Come Into Force
- UK Review of the Fixed Income, Currency and Commodities...more
Key Highlights:
..All counterparties within scope of the European Market Infrastructure Regulation (“EMIR”) and subject to the clearing obligation will soon be required to centrally clear their applicable derivatives...more
It has been three years since the Independent Commission on Banking (the “IBC”), chaired by Sir John Vickers, published its final report and recommendations on the reform of the UK banking system in response to lessons learnt...more
On August 16, 2012, the European Market Infrastructure Regulation (“EMIR”) came into force, defining the obligations of in-scope entities, amongst other things, to (1) centrally clear certain over the counter derivatives...more
On 19 June 2014, the International Swaps and Derivatives Association (“ISDA”) published an amendment to the ISDA Master Agreement for use in relation to section 2(a)(iii) of that agreement, for parties who wish to amend their...more
In This Issue:
- The 1996 Morgan Stanley Letter: Re-imagined at the Age of 18
- Structured CDs – Goodbye Regulation DD, Hello Regulation DD
- FCA Issues Fine in Relation to Structured Product...more
6/26/2014
/ Banks ,
Disclosure Requirements ,
EDGAR ,
European Securities and Markets Authority (ESMA) ,
Financial Products ,
Initial Public Offering (IPO) ,
Morgan Stanley ,
Public Disclosure ,
Regulation D ,
Securities ,
Securities and Exchange Commission (SEC) ,
Truth in Savings Act
On April 14, 2014, the European Supervisory Authorities (“ESAs”) published the anticipated first draft regulatory technical standards (“RTS”) on risk-mitigation techniques for over the counter (“OTC”) derivatives contracts...more
On January 14 2014, the European Parliament and European Council reached agreement in principle on the revised Markets in Financial Instrument Directive (Mifid II). The announcement signaled an important milestone in a long...more
In This Issue:
Opinions and Warnings – ESMA’s Views on Complex Products; SEC Releases Draft Strategic Plan; Distributing Structured Notes from a Regulation S Platform; and Non-U.S. Equity Underliers and Exchange Rate...more
Financial Services analysis: Following the publication of Basel III's leverage ratio framework and disclosure requirements, Peter Green, partner at Morrison & Foerster, analyses the likely impact of the guidance and how it...more
The march towards structural reform of the EU banking sector has taken another step forward, as the EU Commission’s (the “Commission”) legislative proposals (the “Proposals”) for a Regulation implementing certain...more
In This Issue:
“Structured Products, Meet the Volcker Rule”: The New Limitations on Proprietary Trading; SEC and FINRA Personnel Speak at Structured Products Conference; FINRA’s Annual Regulatory and Examination...more
European financial regulatory reform has moved no more quickly than in the U.S. in 2013, and with the need to reach consensus between 28 member states, with often very different interests, there is little chance that the pace...more
After the financial crisis, have you ever asked, “What does it all mean?”
Now, we have an answer for you: MoFo’s Regulatory Reform Glossary.
Since the great financial crisis, financial institutions have been...more
In This Issue:
Launching an Exempt Structured Products Program in the United States: Issues for Non-U.S. Banks to Consider; “Big-Boy Letters” Revisited: Pharos Decision Upheld by the Sixth Circuit.; SEC Addresses...more
12/3/2013
/ Banks ,
Big-Boy Letters ,
CPO ,
Disclosure Requirements ,
Dodd-Frank ,
EMIR ,
EU ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Banks ,
LinkedIn ,
MiFID ,
Misrepresentation ,
Nasdaq ,
OCC ,
Regulation D ,
Rule 144A ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
On November 28, 2013, the European Supervisory Authorities (“ESAs”) issued a joint paper (the “Joint Position”) setting out eight high level principles, intended to form a harmonised, cross-sector approach to the regulation...more
With the Alternative Investment Fund Managers Directive (the “AIFMD”) implementation deadline of July 22, 2013 fast approaching, the UK Financial Conduct Authority (the “FCA”) and UK’s HM Treasury have been ramping up their...more
By July 22, 2013, EU member states must adopt the provisions of the Alternative Investment Fund Managers Directive (the “AIFMD”). On May 13, 2013, the UK’s HM Treasury further clarified how AIFMD will affect alternative...more
Background -
As we have previously reported, a Task Force of the International Organization of Securities Commissions (“IOSCO”) published a consultation on financial benchmarks on 11 January 2013 in response, in part,...more
In This Issue:
FINRA’s 2013 Communication Rules and Revisions to MSDAs; Regulation R and Bank Sales of Structured Products; FCA Temporary Product; and Intervention Rules: Nipping It in the Bud.
Excerpt from...more
In September 2011, the European Commission initially proposed that a financial transaction tax (“FTT”) be implemented by all 27 EU Member States, although it soon became clear that a significant proportion of the Member...more
Originally published in Derivatives Intelligence on February 25, 2013.
The implementation of EMIR and the Dodd-Frank Act will mutualize large volumes of counterparty risk and, together with new requirements for trade...more
The September 2009 resolutions of the G20 nations at their Pittsburgh summit, as to the compulsory centralised clearing of standardised over-the-counter (OTC) derivatives, paved the way for the creation of some of the biggest...more