Podcast: ESMA Report: Undue Pressure on Companies
On 18 September 2024, the General Court of the European Union (General Court) largely upheld the fine imposed by the European Commission (Commission) finding that a global tech company had engaged in predatory pricing of its...more
In a previous alert, Crypto-Asset Services and Grandfathering Under MiCA: Clarity From ESMA, we noted that the provisions of the Markets in Crypto Assets Regulation (MiCA) governing crypto-asset service providers (CASPs) is...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
In a speech published on the Central Bank website¹ on 24 October 2024, Deputy Governor Derville Rowland confirmed that the Central Bank is in the process of converging its regulatory approach with other European regulators...more
The European Securities and Markets Authority has published an updated version of its manual on post-trade transparency and an updated version of its opinion on the assessment of pre-trade transparency waivers for equity and...more
In a previous alert, “Are You Ready for MiCA Implementation?,” we discussed provisions of the Markets in Crypto Assets Regulation (MiCA) governing stablecoins that came into effect on 11 June 2024. With further provisions...more
Marketing will now expressly fall within the scope of delegation under AIFMD 2.0, to the extent that it is carried out on behalf of the alternative investment fund manager (AIFM). AIFMD 2.0 clarifies that only distributors...more
European Commission has launched a short 8 week public consultation on key aspects of the EU Securitisation Framework. The consultation seeks feedback on the effectiveness, scope and application of the current EU...more
The questions from the European Securities and Markets Authority (ESMA) Consultation Papers are below. The questions largely ask for feedback from market participants as to whether...more
ESMA explains that each selection procedure will be launched with the publication of a contract notice and procurement documents on the EU Funding & Tenders Portal. Prospective applicants are invited to register and...more
Antitrust and Competition - The Court of Justice of the European Union Finds That the European Commission Lacks Jurisdiction to Review Transactions That Fall Below the EU and National Merger Filing Thresholds -On 3 September...more
The European Securities and Markets Authority has published a consultation on the review of regulatory technical standards on transaction data reporting and on order book data under the revised Markets in Financial...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
With the EU’s AI Act having entered into force on August 1, 2024, companies now need to focus on its implementation. Although the AI Act will not be fully enforceable until August 2, 2027, some obligations will become binding...more
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more
The deadline is fast approaching for in-scope financial entities and their ICT service providers to conform to the EU’s new digital operational resilience regulation. With effect from 17 January 2025, a broad range of EU...more
This second instalment of our AIFMD II 101 series focuses on the new EU-wide legal framework for liquidity management tools ("LMTs") under AIFMD II. The new rules in relation to the use of LMTs will apply to alternative...more
The Irish government has been supportive of the development of the financial services sector in Ireland and this extends to fintech. The government’s strategy for the development of Ireland’s international financial services...more
Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more
In our recent alert Loan Origination Under AIFMD2: A Guide, on loan origination under the revised Alternative Investment Fund Managers Directive (AIFMD2), we noted that the European Securities and Markets Authority (ESMA)...more
The Financial Conduct Authority has published a speech by Sarah Pritchard, FCA Executive Director, Markets and International, on taking a targeted and outcomes-based approach to tackling financial crime....more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
The European Commission has published a report on the future of European competitiveness, prepared by Mario Draghi, former President of the European Central Bank. The report aims to set out a new industrial strategy for...more