Commission Delegated Regulation (EU) 2025/1003 has been published in the Official Journal of the European Union (OJ), supplementing the EU Markets in Financial Instruments Regulation (MiFIR) as regards over-the-counter...more
Companies should not minimize the extent of a material cybersecurity incident by omitting material facts regarding the scope and potential impact of the incident. Cybersecurity risk factor disclosures should be tailored to a...more
Le 25 juillet 2024, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont publié les modifications finales (les « modifications ») aux règles de déclaration des opérations sur dérivés de gré à gré applicables...more
On July 25, 2024, the Canadian Securities Administrators (CSA) published final amendments (Amendments) to the over-the-counter (OTC) derivatives trade reporting rules applicable in each province and territory (including OSC...more
On October 13, 2023, the Securities and Exchange Commission (the “SEC”) adopted new Rule 10c-1a (the “Securities Lending Rule”), requiring the reporting of certain securities lending transactions. Certain material terms of...more
Contexte - Après un processus de consultation qui aura duré 10 ans, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont publié le Règlement 93-101 sur la conduite commerciale en dérivés (le « Règlement »),...more
Background - After a 10-year long consultation process, the Canadian Securities Administrators (CSA) have published Multilateral Instrument 93-101 – Derivatives: Business Conduct (Rule), a core regulation governing dealing...more
The Canadian Securities Administrators (CSA) have published proposed amendments (Proposed Amendments) to the Provincial Trade Reporting Rules (defined below). The Proposed Amendments are meant to streamline Canada’s...more
Proposed amendments are intended to reduce regulatory burden by aligning over-the-counter (OTC) derivatives data reporting requirements with international standards developed by the Committee on Payments and Market...more
The Saudi Arabian Monetary Authority ("SAMA") issued the SAMA Rules on Trade Repository Reporting & Risk Mitigation Requirements for Over-the-Counter ("OTC") Derivatives Contracts (the "Rules") in November 2019, replacing the...more
Derivatives reporting responsibilities under the European Market Infrastructure Regulation (EMIR) will change from 18 June 20201, as (i) alternative investment fund managers (AIFMs) will become responsible for reporting for...more
EMIR REFIT Mandatory Reporting provisions require market participants to consider their existing Delegated Reporting arrangements. Key Points: ..From 18 June 2020, financial counterparties (FCs) will be liable for the...more
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions have published a joint report on governance arrangements for critical data elements for over-the-counter...more
The Financial Stability Board has published a report on governance arrangements for the Unique Product Identifier, a globally harmonized code identifying over-the-counter derivatives products reported to trade repositories....more
The staffs of the Division of Trading and Markets (Division) of the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) (collectively, the “Regulators”) published a joint...more
The legislative amendments to the EU's Capital Requirements Regulation and the Capital Requirements Directive, widely referred to as "CRD5" or "CRR2", have been published in the Official Journal of the European Union. Subject...more
• Under Swiss law, to fulfil the clearing, reporting and risk mitigation obligations applying to derivatives trading under foreign law, the Swiss Financial Market Supervisory Authority (FINMA) must recognize the foreign law...more
The European Securities and Markets Authority has issued a public statement urging customers of credit rating agencies and trade repositories to prepare for a "no deal" Brexit. The European Market Infrastructure Regulation...more
This alert examines the draft Commission Regulation amending Regulation 648/2012 aka « EMIR Regulation » and Communication from the Commission to the EU Parliament and Council as well as to the European Central Bank. ...more
On 4 May 2017, the European Commission (the “Commission”) adopted a proposal for a Regulation amending Regulation (EU) No 648/2012 (“EMIR”) as regards the clearing obligation, the suspension of the clearing obligation, the...more
The Canadian Securities Administrators (CSA) recently published National Instrument 94-102 – Derivatives: Customer Clearing and Protection of Customer Collateral and Positions and the related Companion Policy (collectively,...more
On January 19, 2017, the Canadian Securities Administrators (CSA) published National Instrument 94-101 – Mandatory Central Counterparty Clearing of Derivatives and Companion Policy 94-101 (collectively, the Clearing Rule). ...more
In response to feedback from issuers, the OTC Markets Group has released updated guides outlining the application process to join their OTCQX Best Market and OTCQB Venture Market trading platforms for companies conducting...more
CFTC Issues Proposed Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps - On August 19, The U.S. Commodity Futures Trading Commission (CFTC) proposed amendments to existing rules relating...more
Trade reporting obligations take effect in Ontario, Quebec and Manitoba (Applicable Provinces) on June 30, 2015 and will require over-the-counter (OTC) derivatives transactions between “End-Users” to be reported if either or...more