News & Analysis as of October 19, 2024

Financial Services Industry

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Understanding DORA: An Overview of the Digital Operational Resilience Act

Barnea Jaffa Lande & Co. on 10/9/2024

The Digital Operational Resilience Act (DORA) is an EU regulatory framework, aimed at enhancing the financial sector’s ability to withstand and recover from ICT (information and communication technology) disruptions....more

ZuFinG II – Der nächste Schritt zur Stärkung des Finanzstandorts Deutschland?

McDermott Will & Emery on 10/8/2024

Nach den ersten Schritten mit dem Zukunftsfinanzierungsgesetz („ZuFinG I„) legte das Bundesministerium der Finanzen am 27. August 2024 mit dem Entwurf eines Zweiten Gesetzes zur Finanzierung von zukunftssichernden...more

Brussels Regulatory Brief: June 2024

K&L Gates LLP on 7/29/2024

Antitrust and Competition - The European Commission to Take Action to Address Territorial Supply Constraints - On 24 May 2024, the EU Commissioner for Competition, Margrethe Vestager, announced that the European Commission...more

European Enforcement Guide

Alston & Bird on 2/5/2024

In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

Belgian investigations trends and developments in white collar crime

A&O Shearman on 1/10/2024

We continue to see increased investigation and prosecution of corruption, fraud, modern slavery and workplace misconduct, especially in the construction, transportation and financial sectors. Investigations are boosted by...more

2024 Insights: Corporate Trends

Skadden, Arps, Slate, Meagher & Flom LLP on 12/22/2023

Global M&A Activity Endures Headwinds in 2023 and Displays Resilience Going Into 2024 - Despite market headwinds, dealmakers have looked to carveouts, spin-offs, joint ventures and other creative deal structures to engage...more

Doing Fintech Business in the UK: Regulatory Q&A for US and Other Non-UK Businesses

Goodwin on 5/1/2023

With more fintech’s looking to expand their businesses internationally, it can be daunting to navigate varying regulations across borders. This article focuses on regulations in the United Kingdom....more

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

Skadden, Arps, Slate, Meagher & Flom LLP on 12/14/2022

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

French and Dutch Regulators Propose Tighter Supervision of Cross-Border Retail Activities

Latham & Watkins LLP on 1/19/2022

The regulators suggest improvements to the supervision of firms passporting retail products and services in the EU. The French and Dutch financial services regulators (the AFM and the AMF) have published a joint position...more

Regulatory Hot Topics: Highlights

White & Case LLP on 11/16/2021

It has been a period rife with notable shifts on the global stage; a new administration in the US, the end of the Brexit transition period and the reaching of key milestones in the discontinuation of LIBOR, to name but a few....more

FINRA Adopts New Rules to Address Firm Misconduct

Goodwin on 9/30/2021

In This Issue. The Financial Industry Regulatory Authority (FINRA) adopted new rules to address firms with a significant history of misconduct; the Securities and Exchange Commission (SEC) issued an order approving rule...more

Reaching a Consensus on (Re)insurance

Skadden, Arps, Slate, Meagher & Flom LLP on 3/4/2021

Financial services, including insurance and reinsurance (together, (re)insurance), have effectively been omitted from the Trade and Cooperation Agreement (TCA), resulting in arguably the “hardest” Brexit for any key UK...more

Implications of the EU-UK Trade and Cooperation Agreement for Financial Services

White & Case LLP on 1/14/2021

With the EU-UK Trade and Cooperation Agreement of 24 December 2020 ("Agreement"), the UK and the EU have fundamentally changed market access for financial services firms. As of 1 January 2021, UK financial services firms...more

"Trade" and "Cooperation" – Buzzwords for life beyond Brexit

Sullivan & Worcester on 1/12/2021

In a flurry of last-minute negotiations, the EU and the UK agreed on the form of the Trade and Cooperation Agreement between the EU, European Atomic Energy Community and the UK on 24 December 2020 ("TCA") to bring about the...more

A Few Words on DORA – Proposal for Regulation on Digital Operational Resilience in Financial Sector

White & Case LLP on 12/1/2020

The financial sector is greatly dependent on information and communication technologies (ICT). The importance of ensuring remote access to financial services increased to an even greater extent during the COVID-19 pandemic,...more

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

Latham & Watkins LLP on 1/14/2020

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

EU Opinion on the Nature of Passports of Payment and Electronic Money Institutions Using Agents and Distributors

A&O Shearman on 5/23/2019

The European Banking Authority has published an opinion on the nature of passport notifications for agents and distributors under the revised Payment Services Directive, the Electronic Money Directive and the Fourth Money...more

Bill Preparing for a "Hard" Brexit Presented in French Parliament

Jones Day on 11/9/2018

The Situation: The French government has presented a new bill in order to prepare for a "Hard" Brexit scenario. The Result: If the United Kingdom leaves the European Union in March 2019 without an overall deal—or with a...more

HCJP's Synopsis on the Potential Impact of "Hard" Brexit

Jones Day on 9/5/2018

The Situation: The Legal High Committee for Financial Markets of Paris ("HCJP") recently published a synopsis of its three Brexit reports on contracts continuity. The Result: In the event of the United Kingdom crashing out...more

Asset Management Regulatory Roundup - April 2018 - Issue 7

Dechert LLP on 4/20/2018

A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s statement on the implementation period for Brexit; the requirement for firms...more

Road to Brexit: Theresa May sets out “Five Tests” with which to judge eventual deal

Pillsbury Winthrop Shaw Pittman LLP on 3/9/2018

The Prime Minister has given the clearest indication yet of what the UK will seek in the Brexit negotiations. Access to each side’s markets is going to be less than it is today. ...more

Does CETA provide a workable model for market access in the financial services industry?

Hogan Lovells on 4/3/2017

Does CETA provide a workable model for market access in the financial services industry? At the risk of spoiling the plot: no, not really. What does the industry mean when it says it wants market access?...more

EU’s Third Country Regimes and Alternatives to Passporting

Hogan Lovells on 2/1/2017

Hogan Lovells has collaborated with TheCityUK and The City of London Corporation's co-sponsored International Regulatory Strategy Group (IRSG), to launch a new report looking at the options for Financial Institutions in the...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 9/16/2016

Financial Industry Developments - Agencies Publish Study on Banking Activities and Investments under Dodd-Frank - On September 8, 2016, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more

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