News & Analysis as of September 18, 2024

European Economic Area (EEA)

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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 -

AIFMD II: Unveiling the timeline for the new loan origination regime

A&O Shearman on 3/29/2024

The text of the Directive amending the Alternative Investment Fund Managers Directive (AIFMD) (AIFMD II) was published on 26 March 2024 and will enter into force on 15 April 2024. AIFMD II introduces, among other changes,...more

Greenwashing – Proposed Clampdown on Fund Names

Proskauer Rose LLP on 2/24/2023

On 20 February 2023, the European Securities and Markets Authority’s (“ESMA”) consultation paper (ESMA34-472-373) “Guidelines on funds’ names using ESG or sustainability-related terms” (the “Consultation”) closed to comments....more

EU Short Selling Regulation: ESMA to End Temporary Lower 0.1% Net Short Position Reporting Threshold

Akin Gump Strauss Hauer & Feld LLP on 3/23/2021

The European Securities and Markets Authority (ESMA) has announced that the temporary lower net short position reporting threshold of 0.1 percent under the EU Short Selling Regulation (SSR) with respect to shares traded on an...more

The proposal for a Digital Markets Act in light of the decision making practice of the Commission and of the FCA

A&O Shearman on 1/25/2021

In recent years, online platforms have been the subject of numerous investigations by competition authorities, at both the European Union (EU) and French levels and elsewhere. ...more

Key Regulatory Topics: Weekly Update 23 Dec - 7 Jan 2020

A&O Shearman on 1/21/2021

FCA and PRA on passporting in and out of Gibraltar after the transition period - On 31 December, the FCA published a new webpage on Gibraltar passporting arrangements, with the PRA publishing its respective webpage on 4...more

Funds and asset management regulatory news, January 2021

Hogan Lovells on 1/18/2021

TMPR: FCA update on adding new sub-fund to umbrella scheme - The UK Financial Conduct Authority (FCA) has updated its webpage on adding a new sub-fund to an umbrella scheme in the temporary marketing permissions regime (TMPR)...more

ESMA reminds UK investment market of the MiFID II reverse solicitation rules

BCLP on 1/14/2021

ESMA has issued a stark reminder that reverse solicitation, where it can be used, has to be carefully managed and documented, and is an area of regulatory scrutiny and focus. This short note also takes stock on the EU27...more

Key Regulatory Topics: Weekly Update 27 November to 3 December 2020

A&O Shearman on 12/22/2020

Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 - On 3 December, the Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 were published, together with an explanatory memorandum. The...more

New ESG Requirements Impacting the Financial Services Industry

Proskauer Rose LLP on 12/15/2020

In March 2021, a new European Union regime on sustainability-related disclosures in the financial sector will come into force. The Sustainable Finance Disclosure Regulation 2019/2088 (“SFDR”) contains rules regarding...more

Insurance regulatory news, November 2020 # 4

Hogan Lovells on 11/30/2020

Recent regulatory developments of interest to insurers and their intermediaries. Among other things, includes UK FCA updates on preparing for the end of the UK-EU transition period. ...more

Financial institutions general regulatory news, November 2020

Hogan Lovells on 11/16/2020

Brexit: UK equivalence decisions for EEA states - HM Treasury has announced its intention to make equivalence decisions in respect of the EEA across a number of financial services areas. ...more

UK Chancellor Outlines Future for Financial Services Post-Brexit

Latham & Watkins LLP on 11/12/2020

Equivalence decisions for EEA states, green finance and fintech initiatives are at the forefront of the UK government’s priorities. On 9 November 2020, the UK Chancellor of the Exchequer, Rishi Sunak, delivered a statement...more

Financial institutions general regulatory news, July 2020 #3

Hogan Lovells on 7/21/2020

Draft Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 - HM Treasury has published draft Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020, together with a draft...more

Brexit Manoeuvres: Potential Implications of a "Hard Brexit" for Fund Managers: A UK Perspective - October 2019

Dechert LLP on 10/22/2019

This note sets out at a high level the potential impact of the United Kingdom’s (“UK”) exit (“Brexit”) from the European Union (“EU”) without a negotiated agreement on UK and European Economic Area (“EEA”) (a) alternative...more

Key Regulatory Topics: Weekly Update 20 September 2019 - 26 September 2019

A&O Shearman on 10/4/2019

BREXIT - FCA updates its draft transitional directions under the Temporary Transitional Power On 26 September, the FCA published updated versions of the draft directions that it intends to make using its no-deal Brexit...more

Key Emerging Regulatory Issues and Focus Areas for Institutional Asset Managers

Latham & Watkins LLP on 9/19/2019

This publication maps out key current areas of legal or regulatory change that are of specific relevance for institutional asset managers. These focus areas are arranged thematically, by those that affect managers or...more

Key Regulatory Topics: Weekly Update 6 September 2019 - 12 September 2019

A&O Shearman on 9/19/2019

BREXIT - FCA steps up efforts to ensure that firms are ready for a no-deal Brexit - On 11 September, the FCA issued a press release providing additional information for firms on preparations for a no-deal Brexit. To...more

Latest UK Developments on the Regulation of Cryptoassets

Latham & Watkins LLP on 8/2/2019

FCA finalises guidance on cryptoassets and consults on product intervention measures. FCA guidance on the regulation of cryptoassets - As previously reported in this blog, the FCA consulted on guidance on cryptoassets...more

Key Regulatory Topics: Weekly Update 12 July 2019 - 18 July 2019

A&O Shearman on 7/24/2019

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

Key Regulatory Topics: Weekly Update 7 June 2019 - 13 June 2019

A&O Shearman on 6/18/2019

BREXIT - PRA Rulebook: (EU Exit) (Amendment) Instrument 2019 - On 13 June, the PRA published an updated version of its April policy statement (PS5/19). PS5/19 has been updated to include a new Appendix B.2A, which sets...more

Key Regulatory Topics: Weekly Update 26 April - 2 May 2019

A&O Shearman on 5/10/2019

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

Key Regulatory Topics: Weekly Update 12-17 April 2019

A&O Shearman on 4/29/2019

BREXIT - An extension until 31 October 2019 for the UK’s withdrawal from the EU has been agreed. Are you still wondering what Brexit means for your business? Our insights can be found on our Brexit Law Microsite. FCA...more

Key Regulatory Topics: Weekly Update 5 to 11 April 2019

A&O Shearman on 4/17/2019

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

Key Regulatory Topics: Weekly Update 29 March to 4 April 2019

A&O Shearman on 4/11/2019

BREXIT - Final EBA Outsourcing Guidelines: Impact on firms’ Brexit contingency plans The EBA has published final guidelines on outsourcing (the EBA Guidelines), which will replace the guidelines issued by its predecessor,...more

Key Regulatory Topics: Weekly Update 22 March - 28 March 2019

A&O Shearman on 4/2/2019

BREXIT - Final EBA Outsourcing Guidelines: Impact on firms’ Brexit contingency plans - The EBA has published final guidelines on outsourcing (the EBA Guidelines), which will replace the guidelines issued by its predecessor,...more

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