Podcast: ESMA Report: Undue Pressure on Companies
As part of the implementation of the European Markets in Crypto-Assets Regulation (MiCA), the French Financial Markets Authority (AMF) has announced its compliance with six sets of guidelines adopted by European Supervisory...more
The European Securities and Markets Authority (ESMA) has published its 2024 report, along with a press release, on the quality and use of data, showcasing significant increase in data use by authorities. The report covers...more
Since December 2024, cryptoassets and related services are regulated in the European Union by the Markets in Crypto-Assets Regulation (MiCA). Although the regulation provides a comprehensive set of rules for issuers of...more
Following the turn of the new year, our UK Regulatory specialists have examined the key regulatory developments in 2025 impacting a range of UK and European firms within the financial services sector. The key dates have been...more
The European Securities and Markets Authority has published a consultation on amendments to the research provisions in the revised Markets in Financial Instruments Directive following changes introduced by the Listing Act....more
The European Commission, the European Central Bank and the European Securities and Markets Authority have published a joint statement on the next steps to support the preparations towards a transition to T+1. Under the EU...more
Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more
The European Securities and Markets Authority has published a public statement on the transition to the new regime for post-trade transparency of OTC-transactions in light of the revised Markets in Financial Instruments...more
This client memorandum concerns a highly technical point of considerable practical importance. It challenges aspects of the received wisdom that, for post-Brexit cross-border investment business conducted from the U.K....more
The EU has published in the Official Journal of the European Union its Regulation on a pilot regime for market infrastructures based on distributed ledger technology. The pilot regime will permit certain DLT market...more
Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. ...more
MiFID II introduced obligations to record telephone conversations and any electronic communications that are intended to lead to a transaction. Records must be kept for at least five years. The COVID-19 pandemic, which...more
Future of UK financial services: Treasury Committee inquiry written evidence - The House of Commons Treasury Committee has published written evidence to the committee's inquiry into the future of financial services in the...more
29 September - The Financial Conduct Authority (“FCA”) published its perimeter report 2019/20, which provides an update on the issues raised in its 2018/19 report. A European Commission notice (2020/C 321/01) relating...more
Following its consultation earlier this year, the European Securities and Markets Authority has published a report on the development of prices for market data and on the consolidated tape for equity. The report is the first...more
The FCA and the PRA published their Business Plans for 2019/20 in April 2019. FCA Priorities - As expected, with Brexit remaining a key focus, there are few new initiatives for this year. The FCA’s Business Plan sets...more
INSTITUTIONAL DEVELOPMENTS - The New European Parliament: More Fragmentation, Ad Hoc Coalitions, And Greener Policies? The results of the May 2019 European Parliament (“EP”) elections resulted in a more complex European...more
The Financial Conduct Authority has published a statement on the delay to publication of final rules for contracts for difference products and CfD-like options. The FCA has consulted on its proposals to make European...more
1 March - The European Banking Authority ("EBA") published an opinion on deposit protection resulting from the United Kingdom's ("UK") withdrawal from the European Union ("EU"). The Financial Conduct Authority ("FCA")...more
The European Securities and Markets Authority has published a statement on its approach to certain provisions of the Markets in Financial Instruments package and the Benchmarks Regulation in the event of a no-deal Brexit. The...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
Payments - Payment services M&A retains its spark on the financial services landscape. Overview - Competition for innovative technology is fierce. Financial sponsors, big banks and, of late, fashion moguls are driving...more
3 December - The European Central Bank ("ECB") published a document setting out its cyber resilient oversign expectations for financial market infrastructures. 4 December - On 4 December 2018, the Council of the EU...more
The European Securities and Markets Authority has issued an opinion addressed to EU national regulators on the market size calculation for the ancillary activity exemption under the revised Markets in Financial Instruments...more
The FCA’s Business Plan for 2018/19, published on 9 April 2018, outlined key priorities for the upcoming year. Although the Business Plan revealed that the FCA’s Brexit-related workload will mean a dearth of new initiatives,...more