Podcast: ESMA Report: Undue Pressure on Companies
The European Securities and Markets Authority (ESMA) has announced the selection of Ediphy (fairCT), a fintech company, as the first consolidated tape provider for bonds in the EU. The decision marks a significant step...more
The European Securities and Markets Authority has published an overview of its planned consultations for 2025. The consultations relate to workstreams under the EU Listing Act,...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: 2024 list of global systemically important banks - Status: Final - The FSB has published a 2024 list of global systemically...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) Germany - BReg: Government draft on the Second Future Financing Act (Regierungsentwurf zum zweiten Zukunftsfinanzierungsgesetz) Status: Draft - The...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION a) General - (i) EU - EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank - Status: Final - The EBA has published an...more
1. Bank regulation - 1.1 Prudential Regulation - (a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more
1. Bank regulation- 1.1 Prudential regulation- (a) General- (i) International- BCBA: Basel III monitoring report- Status: Final- BCBS has published its latest monitoring report setting out the impact of the Basel III...more
Brexit - FCA provides information on the Temporary Permissions Regime (TPR) On 3 March, the FCA published new webpages providing information on the TPR. Firstly, the FCA published a webpage on how it will supervise firms...more
Brexit - Please see our Brexit financial services webpage, which contains, amongst other things, tables detailing Brexit statutory instruments, equivalence decisions, EEA transitional regimes and UK regulators’...more
BREXIT - Please see the Markets and Markets Infrastructure section for the publication of Commission Implementing Decision (EU) 2019/2211 on CCP regulatory framework equivalence in the OJ and ESMA’s related amended...more
BREXIT - Please refer to the Payment Services and Payment Systems section for an update regarding Directions under the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU...more
BREXIT - EEA Joint Committee Decisions - On 18 July, four Decisions of the EEA Joint Committee made on 29 March and five Decisions made on 11 April that amend Annex IX (Financial Services) to the EEA Agreement were...more
BREXIT - ECB updates FAQs on relocating to the euro area in the context of Brexit - On 5 July, the ECB updated its FAQs on the procedures for the relocation of banks to the euro area in the context of Brexit. The new...more
CAPITAL MARKETS - European capital markets: priorities and challenges - On 25 June, the ECB published dinner remarks from Benoît Cœuré, Member of the Executive Board of the ECB, at the International Swaps and...more
PUBLICATIONS - Up to Speed: No variation clauses now worth the paper they're written on A&O’s new “Up to Speed” article focuses on variation clauses. Variation clauses are often referred to as no oral modification or NOM...more
BREXIT - On 7 February, ordinance no. 2019-75 relating to the preparatory measures in connection with the United-Kingdom’s withdrawal from the European Union in respect of financial services (the Ordinance) was published. ...more
BREXIT - FMLC paper on issues of legal uncertainty arising in the context of emissions allowances after Brexit On 31 January, the FMLC published a paper identifying issues of legal uncertainty in the context of emission...more
BREXIT - Financial services regulation in 2019 – don’t mention the B-word - On 30 January, Allen & Overy will hold a seminar regarding financial services regulation. 2019 promises to be another bumper year for UK and...more
BREXIT - Please see the Insurance section for an update on the HoC Treasury Committee’s response to the PRA's constructive approach to issues identified by Solvency II inquiry. Please see the Other Developments...more
BREXIT - Please see the “Other” section for an update on the Joint Committee of ESAs’ report on the risks and vulnerabilities in EU financial system. CBI publishes report on the future of UK regulation On 11 April,...more
1 March - The Financial Conduct Authority ("FCA") published general insurance value measures data in relation to 36 insurers (including both UK and EEA firms) for the year ending 31 August 2017. The data is aimed at...more
BREXIT - Please see the Prudential Regulation section for updates on: (i) the record of the FPC meeting held on 12 March; and (ii) HMT’s recently published letter on the EC’s proposed package of reforms in relation to BRRD...more
BREXIT - ESMA publishes speech on supervisory convergence post Brexit - On 21 March, ESMA published a speech by Steven Maijoor, ESMA Chair, on supervisory convergence in the context of Brexit, transaction cost...more
BREXIT - UK Government response to HoC Treasury Committee report on transitional arrangements - On 27 February, the HoC Treasury Committee published the UK government's response to the Committee's report on transitional...more