In our previous alerts (here and here), we noted critical feedback that the European Commission (Commission) gave to the European Securities and Markets Authority (ESMA) on its December 2023 draft Regulatory Technical...more
In our previous alert, we looked at the draft revised Regulatory Technical Standards (RTS) supplementing the amended ELTIF Regulation (ELTIF 2.0) published by the European Securities and Markets Authority (ESMA) in its...more
On March 11 2024, Eurogroup issued a statement outlining common priorities for the future development of the European capital markets union (CMU), which will be presented to EU Leaders at the Euro Summit in Brussels on March...more
On 23 May 2023, the European Council and the European Parliament reached a provisional agreement on three proposals jointly creating the European Single Access Point (ESAP) as part of the Capital Markets Union Action Plan. ...more
ANTITRUST AND COMPETITION - EU Foreign Subsidies Regulation Expected to Enter into Force by Mid-2023 - On 28 November 2022, the Council of the European Union adopted the Foreign Subsidies Regulation (FSR), which granted the...more
On 25 November 2021, the European Commission (the Commission) adopted a package of measures aimed to deliver on several key commitments in the 2020 Capital Markets Union (CMU) action plan. The package includes four...more
On 25 November 2021, the European Commission (the “Commission”) published a legislative proposal with targeted amendments to Directive 2011/61/EU (“the “AIFMD”) and (to a certain extent) the UCITS Directive (“AIFMD...more
30 November - The Prudential Regulation Authority (“PRA”) published a statement about its forthcoming policy statement on implementing the CRD V Directive ((EU) 2019/878). HM Treasury updated its webpage on a call for...more
On June 21, the new Communication forms the Commission’s contribution to the Euro Summit. It takes stock of the progress made to deepen EMU since the publication of the Five Presidents’ Report: Completing Europe’s EMU on...more
On November 28, the European Commission published a communication (COM(2018) 767 final) on the capital markets union (“CMU“). ...more
Il 20 luglio 2017, a seguito di pubblicazione in Gazzetta Ufficiale del 30 giugno 2017, è entrato in vigore il Regolamento (UE) 2017/1129 del Parlamento europeo e del Consiglio (il “Nuovo Regolamento Prospetti”), relativo al...more
Danny Tricot (London, capital markets): Capital markets in Europe were generally positive in 2017, recovering from a mixed year in 2016. The first half of the year was particularly strong for high-yield issuances in Europe,...more
The European Commission (“EC“) published a communication and legislative proposal on the December 6, 2017, with the goal of finalizing Europe’s economic and monetary union. The communication, which contained a number of...more
The European Commission (“EC“) published on December 1, 2017 a report on the follow-up to its call for evidence on the EU regulatory framework for financial services. The report contains an update on progress on the...more
The European Parliament procedure file indicates that the report outlining the European Commission’s action plan on retail financial services will be considered in mid-November. The action plan, published in March 2017,...more
FCA bans firms' use of restrictive contractual clauses for future primary market services - On 27 June 2017, the Financial Conduct Authority (FCA) published its Policy Statement PS17/13 'Investment and corporate banking:...more
Financial Industry Developments - Federal Reserve Board Approves Extended Transition Period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to Conform Investments in Certain "Illiquid Funds" to Requirements of...more
Financial Industry Developments - 2016 Data Breach Legislation Roundup: What to Know Going Forward - States were busy updating their data breach notification statutes in 2016. With 2016 in the rear view, let's take...more
On January 20, 2017, the European Commission published a consultation paper requesting targeted input on revisions on the capital markets union (“CMU“) action plan, together with frequently asked questions on the...more
The European Commission published a paper (dated January 20, 2017) requesting feedback and general input on revisions to the CMU action plan. The original action plan was published in September 2015 and set out the...more
The Council of the European Union announced that it had reached an agreement with the European Parliament on prospectuses for the issuing and offering of securities. Finalization of the agreement comes after the provisional...more
Financial Industry Developments - SEC Adopts Final Rules to Facilitate Intrastate and Regional Securities Offerings - On October 26, 2016, the Securities and Exchange Commission adopted rules designed to modernize...more
On October 25, 2016, the European Commission issued a communication outlining its 2017 Work Program (COM(2016) 710 final). The communication is addressed to the European Parliament, the Council of the EU, the European...more
Financial Industry Developments - OCC Discusses Marketplace Lending - On September 13, 2016, Comptroller of the Currency Thomas J. Curry discussed marketplace lending's risks and associated policy questions. He...more
On September 14, 2016, the European Commission published a communication calling for an acceleration of the capital markets union (CMU) reforms (COM(2016) 601 final) in light of the current political and economic context. ...more