News & Analysis as of

Derivatives Securities Regulation

Fenwick & West LLP

SEC Division of Corporation Finance Issues Statement on Crypto Asset Exchange-Traded Products

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On July 1, the SEC’s Division of Corporation Finance (Corp Fin) issued a statement regarding Crypto Asset Exchange-Traded Products (crypto asset ETPs). Crypto asset ETPs are investment products that are listed and traded...more

A&O Shearman

Industry associations urge ESMA to issue a no-action letter on EMIR 3 AAR implementation

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Four industry associations—EFAMA, EACP, ISDA, and FIA—have published a letter addressed to the European Securities and Markets Authority (ESMA) and the European Commission (EC), raising concerns about the implementation of...more

Stikeman Elliott LLP

Coming Soon: Amendments to Canada’s OTC Derivatives Trade Reporting Regime

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The Canadian Securities Administrators (“CSA”) have released several updates in the last year to Canada’s trade reporting regime for over-the-counter (“OTC”) derivatives. In July 2024, all members of the CSA published final...more

A&O Shearman

FCA Handbook Notice 129

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The UK Financial Conduct Authority (FCA) has published Handbook Notice 129 which sets out changes to the classes of derivatives subject to the derivatives trading obligation (DTO), following policy statement PS25/2 published...more

Blake, Cassels & Graydon LLP

Crypto Class Action Certified by Ontario Court of Appeal

In its recent decision in Lochan v. Binance Holdings Limited, the Ontario Court of Appeal upheld the certification of a class action brought on behalf of Canadian investors who purchased cryptocurrency products (Decision). It...more

A&O Shearman

ESMA calls for clarity on the qualification of fractional shares

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The European Securities and Markets Authority (ESMA) has published a letter to the European Commission on the inconsistent regulation of trading of fractional shares across the EU. There has been an increase in the...more

BakerHostetler

Weekly Blockchain Blog - March 2025 #5

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In a recent press release, Custodial Bank and Vantage Bank announced “America’s first bank-issued stablecoin on a permissionless blockchain.” According to the press release, “[t]he banks collaborated on the mint, transfer and...more

A&O Shearman

UK FCA webpage on transparency waivers and deferrals updated

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The UK Financial Conduct Authority (FCA) has updated its webpage on transparency waivers and deferrals in light of the upcoming changes to the UK MiFIR transparency regime for bond and derivatives markets. The FCA added a...more

A&O Shearman

International bodies report on effective practices for streamlining variation margin in centrally cleared markets

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The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions published a final report on examples of effective practices for streamlining variation margin in centrally...more

A&O Shearman

International bodies issue final report on transparency and responsiveness of initial margin in centrally cleared markets

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The Basel Committee on Banking Standards, Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions has published a final report on transparency and responsiveness of...more

Katten Muchin Rosenman LLP

Foreign Listed Stock Index Futures and Options Approvals January 2025

Attached please find the updated Foreign Listed Stock Index Futures and Options Approvals Chart, current as of January 21, 2025. All prior versions are superseded and should be discarded. Please note the following...more

Jones Day

Mauritania's Parliament Approves a New Close-out Netting Regime

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The National Assembly of the Islamic Republic of Mauritania passed a bill fundamentally reforming the banking and financial markets in Mauritania....more

Stikeman Elliott LLP

Setting the Stage: CSA Prepare for Canada’s Business Conduct Regime for OTC Derivatives Dealers and Advisers

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The Canadian Securities Administrators (“CSA”) have released a few updates this summer regarding National Instrument 93-101 Derivatives: Business Conduct and its companion policy (collectively, the “Business Conduct Rule”)....more

Skadden, Arps, Slate, Meagher & Flom LLP

Hong Kong Regulatory Update - August 2024

查看中文 This update primarily provides an overview of key regulatory developments in the second quarter of 2024 relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx) and their...more

Stikeman Elliott LLP

The End of CDOR: June 28, 2024

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On June 6, 2024, the Ontario Securities Commission, Autorité des marchés financiers, British Columbia Securities Commission and Alberta Securities Commission published CSA Multilateral Staff Notice 25-312 Reminder of...more

Proskauer - Regulatory & Compliance

SEC Adopts Treasury Clearing Rules

On December 13, 2023, the Securities and Exchange Commission (“SEC”) adopted new rules that will have the effect of requiring central clearing of a broad range of cash transactions and repurchase transactions in U.S. treasury...more

Cadwalader, Wickersham & Taft LLP

SEC Adopts Final Rules to Amend Beneficial Ownership Reporting Rules

On October 10, 2023, the SEC adopted rule amendments related to Section 13 beneficial ownership reporting rules (the “Final Rules”).  In brief, the Final Rules accelerate the filing deadlines for Schedules 13D and 13G,...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Amends Beneficial Ownership Reporting Rules, Shortening Deadlines and Offering Guidance on ‘Groups’ and Cash-Settled...

On October 10, 2023, the Securities and Exchange Commission (SEC) voted 4-1 to adopt amendments to its beneficial ownership reporting rules. Sections 13(d) and 13(g) of the Securities Exchange Act of 1934, as amended...more

Latham & Watkins LLP

The Latham FPI Guide: Accessing the US Capital Markets From Outside the United States - 2023 Edition

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Fabry-Pérot Interferometer, SA is a highly successful non-US company known to the world as FPI. FPI is considering doing a debt or equity offering in the United States. What are the key legal issues it, and its underwriters...more

Troutman Pepper Locke

Coinbase Approved to Operate a Futures Commission Merchant

Troutman Pepper Locke on

Coinbase Financial Markets, Inc., a leading cryptocurrency exchange, announced that it has secured regulatory approval from the National Futures Association (NFA) to operate a futures commission merchant offering crypto...more

Stikeman Elliott LLP

Changes to Ontario’s Fee Rules To Take Effect in April

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Certain market participants in Ontario’s over-the-counter (OTC) derivatives market will be required to pay an Ontario Securities Commission (OSC) annual participation fee. Reduced fees for most existing fee payers will also...more

Latham & Watkins LLP

The Latham FPI Guide: Accessing the US Capital Markets From Outside the United States - 2022 Edition

Latham & Watkins LLP on

Fabry-Pérot Interferometer, SA is a highly successful non-US company known to the world as FPI. FPI is considering doing a debt or equity offering in the United States. What are the key legal issues it, and its underwriters...more

Proskauer Rose LLP

In A Trinity of Releases, the SEC Proposes To Make Hedging Transactions More Transparent

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If adopted, the proposals will likely impact market practices - In a trinity of proposing releases rolled out in less than three months, the SEC has comprehensively proposed to regulate the use of derivatives and short...more

Goodwin

Stress Test Scenarios Released for 2022

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In This Issue. The Federal Reserve Board of Governors (Federal Reserve), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released stress test scenarios to assess...more

Mayer Brown Free Writings + Perspectives

SEC Proposes Modernization of Beneficial Ownership Reporting: Amendments to Schedules 13D and 13G

On February 10, 2022, the Securities and Exchange Commission proposed amendments to Schedules 13D and 13G relating to beneficial ownership reports.  Section 13D requires disclosure by investors of the accumulation of...more

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