Connecting the Data Dots: Sapient’s Jim Bennett Talks Compliance Reporting
Key developments in May 2024: ESG: The Financial Conduct Authority (“FCA”) updated its webpage on the sustainability disclosure requirements (“SDR”) and investments labelling regime. Among other things, the webpage has been...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in December 2023: 21 December - UK / Swiss Regulatory...more
Welcome to the July – September 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter, such...more
31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more
MiFIR / MiFID II: The European Parliament published a press release announcing it has reached provisional political agreement with the Council of the EU on the proposed amendments to the Markets in Financial Instruments...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
The European Union’s financial regulatory regime for third-country access in many sectors relies on a framework of “equivalence,” whereby institutions based in approved non-EU countries with similar standards may have varying...more
EMIR: FCA revises breach notification form - The UK Financial Conduct Authority (FCA) has published a revised version of its form for reporting errors or omissions in their trade reports under Article 9 of the European...more
Recent regulatory developments of interest to financial institutions and markets. Includes the extension of the senior managers regime to benchmark administrators, updates relating to MiFID II, EMIR, ESMA's draft guidelines...more
COVID-19: FCA updates statement on short selling bans and reporting - On 31 March 2020, the UK Financial Conduct Authority (FCA) updated its webpage on short selling bans and reporting to confirm that the required changes...more
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
2 December - The Financial Conduct Authority ("FCA") updated the following webpages: - webpage on its July 2018 discussion paper on price discrimination in the cash savings market (PD18/6); and - webpage on its...more
The Joint Committee of the European Supervisory Authorities has published its 2020 work program, outlining revisions to the Joint Committee’s scope of work and the matters it will focus on in 2020. The Joint Committee...more
The European Securities and Markets Authority has published its Annual Work Programme for 2020. The Work Programme sets out ESMA’s focus areas for 2020 and provides details of expected outputs within each of the areas. In...more
SEC/CORPORATE – SEC Proposes to Modernize Business, Legal Proceedings and Risk Factor Disclosures Required by Regulation S-K – On August 8, the Securities and Exchange Commission proposed amendments to modernize the...more
BREXIT - EEA Joint Committee Decisions - On 18 July, four Decisions of the EEA Joint Committee made on 29 March and five Decisions made on 11 April that amend Annex IX (Financial Services) to the EEA Agreement were...more
CONDUCT - FMSB statement of good practice on conflicts of interest - On 20 June, the FICC Markets Standards Board (FMSB) published a consultation on a statement of good practice on conflicts of interest....more
CONSUMER/RETAIL - FCA call for input on RDR and FAMR review - On 1 May, the FCA published a call for input on its plans to evaluate the Retail Distribution Review (RDR) and Financial Advice Markets Review (FAMR). The...more
MiFID II – ESMA issues statement regarding the impact of a no-deal Brexit on the impact of the "share trading" obligation under Article 23 of MiFIR - ESMA issued a statement on 19 March 2019 regarding the impact of Brexit...more
BREXIT - On 11 April, the European Council Decision (EU) 2019/584, taken in agreement with the UK to extend the period under Article 50(3) TEU, was published in OJ. The European Council agreed to a further extension to...more
BREXIT - On 7 February, ordinance no. 2019-75 relating to the preparatory measures in connection with the United-Kingdom’s withdrawal from the European Union in respect of financial services (the Ordinance) was published. ...more
AIFMD – ESMA issues draft guidelines on liquidity stress testing in UCITS and AIFs - On February 5, ESMA issued a consultation paper on issuing liquidity stress test guidance for investment funds. The draft guidelines aim...more
PUBLICATIONS - Brexit and the creation of UK sectoral sanctions targets - The UK currently is set to leave the European Union on 29 March. In the context of international sanctions, most commentary has focussed on the...more
With the date for the United Kingdom to leave the European Union rapidly approaching, several recent developments concerning derivatives (both legal and political) are likely to be of interest to UK and EU27 counterparties....more
MiFID II – updated Q&As on MiFID II and MiFIR transparency topics and obligations on disclosure of information to clients in the context of Brexit - ESMA updated its Q&As on 4 January on MiFID II and MiFIR transparency...more