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
In this 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 managers and...more
On October 26, 2017, the US Securities and Exchange Commission, European Commission and the UK Financial Conduct Authority released, in a coordinated manner, a series of significant orders and guidance to address some of the...more
11/16/2017
/ Broker-Dealer ,
Compliance ,
Cross-Border Transactions ,
European Commission ,
Extraterritoriality Rules ,
Financial Conduct Authority (FCA) ,
Investment Adviser ,
MiFID II ,
New Guidance ,
Securities and Exchange Commission (SEC) ,
SIFMA
Various industry bodies and regulators, including the Bank of England and Bafin, have recently raised fears that there will be a cliff edge on Brexit for certain types of financial contract, most notably derivatives and...more
10/31/2017
/ Bank of England ,
EU ,
EU Charter ,
EU Passport ,
European Court of Human Rights ,
Financial Contracts ,
ISDA Master Agreement ,
Member State ,
MiFID II ,
Passporting ,
UK ,
UK Brexit
On 20 September 2017, the European Commission made proposals to strengthen the regulatory and supervisory powers of the three European Supervisory Agencies (ESAs) namely the European Securities and Markets Authority (ESMA),...more
In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions.
...more
10/24/2017
/ EU ,
European Securities and Markets Authority (ESMA) ,
Financial Reporting ,
Hyperlink ,
Initial Public Offering (IPO) ,
Listing Standards ,
Person with Significant Control (PSC Register) ,
Securities Litigation ,
Takeover Code ,
UK ,
UK Brexit
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates.
...more
The third quarter was headlined by the imposition of broad new US legislative sanctions against Russia, Iran, and North Korea. The Trump Administration also acted unilaterally to significantly expand sanctions against both...more
The revised EU Markets in Financial Instruments package—known as MiFID II—takes effect on January 3, 2018. Some aspects of this legislation are extra-territorial. New rules on inducements, the unbundling of research, legal...more
On 30 June 2017, a new EU prospectus regulation (the “New Prospectus Regulation”) was published in the Official Journal of the European Union. The New Prospectus Regulation will, through a phased implementation, repeal and...more
On 13 July 2017, the UK government published the European Union (Withdrawal) Bill, known as the “Great Repeal Bill.” This major piece of constitutional legislation sets out the government’s proposals for transforming existing...more
In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions.
...more
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates.
...more
7/19/2017
/ Anti-Money Laundering ,
CONSOB ,
Corporate Governance ,
EMIR ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Hong Kong ,
JOBS Act ,
Listing Standards ,
Non-GAAP Financial Measures ,
Prospectus ,
Reporting Requirements ,
Securities Litigation ,
Third Country Entities (TCEs) ,
UK
The first six months of the Trump Administration saw several notable developments for US sanctions, with particular implications for Russia and Iran. The Administration also declared a shift in US policy toward Cuba. ...more
7/6/2017
/ Counter-Terrorist ,
Cuba ,
Drug Trafficking ,
Economic Sanctions ,
Enforcement Actions ,
Exxon Mobil ,
Foreign Policy ,
Iran Sanctions ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Proposed Legislation ,
Russia ,
Trump Administration ,
Ukraine
The revised EU Markets in Financial Instruments package—known as MiFID II—takes effect on January 3, 2018. New rules on trading inducements, research, best execution, market transparency and the regulation of algorithmic...more
The WannaCry ransomware attack was first reported on Friday, May 12. Within hours, it shut down thousands of computer systems, locking users out of their own files. The latest report estimates over 300,000 computers in 150...more
5/26/2017
/ Cyber Attacks ,
Cybersecurity ,
EU ,
General Data Protection Regulation (GDPR) ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare Facilities ,
Incident Response Plans ,
Microsoft ,
Popular ,
Ransomware ,
Risk Management ,
Security and Privacy Controls
Last week, the European Commission published proposals to amend the European Market Infrastructure Regulation (EMIR), which is the main piece of EU legislation governing derivatives markets. Among the amendments proposed is a...more
In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions.
...more
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates.
...more
4/24/2017
/ Cadbury ,
EU ,
European Securities and Markets Authority (ESMA) ,
Foreign Corrupt Practices Act (FCPA) ,
IFRS ,
Insider Trading ,
Non-GAAP Financial Measures ,
Prospectus ,
Securities Settlement Cycles ,
Shareholder Rights ,
Unique Transaction Identifiers ,
XBRL Filing Requirements
MiFID II comes into effect on 3 January 2018 and brings with it several important changes for regulated firms. Among these changes is an extension of the list of investment services and activities which firms require...more
In this 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 managers and...more
In this 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 managers and...more
In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions.
...more
2/8/2017
/ Asia ,
C&DIs ,
Corporate Governance ,
Diversity ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Private Issuers ,
Non-GAAP Financial Measures ,
Resource Extraction ,
SZ-HK Connect ,
Tender Offers ,
Third Country Entities (TCEs) ,
UK ,
US v Salman ,
Volkswagen
On November 8, 2016, Donald John Trump was elected the 45th President of the United States. Following fiery criticism of the Obama Administration’s sanctions policies, including the Iran deal, the lifting of substantial parts...more
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates.
...more