News & Analysis as of

United Kingdom MiFID II Cross-Border Transactions

A&O Shearman

UK lays legislation to implement Berne Financial Services Agreement

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The draft Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025 have been laid before Parliament and published with a draft explanatory memorandum. The Regulations seek to...more

A&O Shearman

UK equivalence regulations for Swiss CCPs and margin for OTC derivatives not centrally cleared

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The OTC Derivatives Risk Mitigation and Central Counterparties (Equivalence) (Switzerland) Regulations 2025 have been laid before Parliament and published with an explanatory memorandum. The Regulations, made on 16 July,...more

Latham & Watkins LLP

AMF Proposals to Revive the Research Industry in France

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The AMF has published a report containing a number of new proposals relating to production of research under MiFID II. Key Points: ..The report pointedly criticises the original MiFID requirements (most of which were...more

Latham & Watkins LLP

Third-Country Firms Operating Cross-Border Into the EU - Upcoming Reform

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Firms outside of Europe should be aware of planned upcoming changes to how they access European markets. Key Points: ..The EU legislators have been reviewing various financial services regimes and developing reforms...more

White & Case LLP

Financial Regulatory Observer – March 2019: FRO in-depth: The future of cryptoassets regulation

White & Case LLP on

Partners Julia Smithers Excell and Stuart Willey, and associate Laura Kitchen of global law firm White & Case take a deep dive on the latest publications from EU and UK regulators aimed at providing supervisory clarity on the...more

A&O Shearman

On the Existence of a Pan-European Reverse Solicitation Regime Under MiFID II, and Its Importance on a ‘Hard’ Brexit

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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. into...more

White & Case LLP

Brexit preparedness for financial services: the German response

White & Case LLP on

The House of Commons recently rejected the Withdrawal Agreement. While the UK Parliament is still debating how to leave the EU, a hard Brexit remains an option. To prepare for this possibility, the UK, EU Commission and EU27...more

A&O Shearman

ESMA Sounds a Death Knell for Cross-Border Exchange Access, in Conflict With UK Legislation and MiFIR

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Guidance of questionable legal accuracy from the European Securities and Markets Authority (ESMA) casts doubt on the ability of non-EU members of EU exchanges to provide client access to such exchanges through a technique...more

A&O Shearman

Financial Regulatory Developments Focus - October 2016

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Bank Prudential Regulation & Regulatory Capital - US Board of Governors of the Federal Reserve System Releases Proposed Rule to Modify Capital Plan and Stress Testing Rules - On September 26, 2016, the US Board of...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume XI, Issue 40

BROKER-DEALER – “Trade Match” and “Trade Acceptance” Clearing Submissions on FINRA’s Alternative Display Facility – On October 7, the Financial Industry Regulatory Authority issued a Trade Reporting Notice regarding...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume XI, Issue 21

SEC/CORPORATE - SEC Releases Target Dates for Proposed and Final Rulemaking - The Securities and Exchange Commission recently published its agenda with respect to upcoming rulemaking, including rulemaking...more

A&O Shearman

Financial Regulatory Developments Focus - May 2016

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In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

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