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Financial Markets Financial Regulatory Reform

A&O Shearman

EC launches targeted consultation on barriers to EU capital markets integration

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The European Commission (EC) has published its targeted consultation on the integration of EU capital markets under its savings and investments union (SIU) strategy, accompanied by a press release and updated webpage. The...more

A&O Shearman

BoE response to discussion paper on reviewing access to RTGS accounts for settlement

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On 8 April, the Bank of England (BoE) has published its response to the discussion paper on reviewing access to Real-Time Gross Settlement (RTGS) accounts for settlement. In the discussion paper, initially published on 8...more

Katten Muchin Rosenman LLP

CFTC Withdraws Controversial SEF Registration Staff Letter

The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC) has withdrawn its previous staff advisory letter on swap execution facility (SEF) registration requirements (Letter 21-19). ...more

Carlton Fields

New SEC Management Boldly Charts New Course

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A shift in leadership at the Securities and Exchange Commission often brings significant changes in regulatory priorities and enforcement approaches. As anticipated in our firm’s EO Watch alert, “Immediate Practical...more

ArentFox Schiff

The End of LIBOR: Hotel California Edition [Part III]

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During the London InterBank Offered Rate (LIBOR) transition, and post LIBOR’s end date of June 30, 2023, the goal for all should be that (1) the effective interest rates be generally economically equivalent as a result of the...more

A&O Shearman

ESMA publishes overview of planned consultations for 2025

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The European Securities and Markets Authority has published an overview of its planned consultations for 2025. The consultations relate to workstreams under the EU Listing Act,...more

DLA Piper

Chile: Comisión para el Mercado Financiero Define Nuevos Requisitos para Directores Independientes

DLA Piper on

La Comisión para el Mercado Financiero (CMF) de Chile publicó la Norma de Carácter General Nº533 (NCG 533) el 12 de marzo de este año, que define requisitos y condiciones para ser considerado director independiente y que...more

Orrick, Herrington & Sutcliffe LLP

Fed’s Powell discusses uncertainty in monetary policy amid Trump administration policy changes

On March 7, Fed Chair Jerome H. Powell delivered his prepared remarks at an event regarding the current economic outlook and U.S. monetary policy. Powell highlighted, despite any uncertainty, the U.S. economy was performing...more

Mayer Brown Free Writings + Perspectives

Lawmakers Ask SEC Acting Chair Uyeda to Review Approach to Consolidated Audit Trail

On February 28, 2025, House Financial Services Committee Chairman French Hill (R-AR), Senate Banking Committee Chairman Tim Scott (R-SC), and Senator Tom Cotton (R-AR) sent a letter (the “Letter”) to Securities and Exchange...more

A&O Shearman

UK Financial Conduct Authority updates webpage on bond consolidated tape

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The Financial Conduct Authority (FCA) has updated its webpage on bond consolidated tape (CT) confirming that the tender documents for the process to appoint a bond CT provider (CTP) will be published by 7 March, instead of...more

Hogan Lovells

The regulation of FMI - The Bank of England’s priorities for 2025

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The Bank of England has outlined its priorities for 2025 in the regulation of Financial Market Infrastructure. In a speech given on 10 February 2024, the Bank of England (the “Bank”) outlined its priorities for 2025 in the...more

A&O Shearman

European Commission communication on EU competitiveness compass

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The European Commission has published a communication on a Competitiveness Compass for the EU, which sets out an action plan in response to the Draghi report published in September 2024. The communication sets out the...more

A&O Shearman

UK Financial Conduct Authority portfolio letter on supervisory strategy for wholesale brokers

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The U.K. Financial Conduct Authority has published a Dear CEO Letter on its new strategy for supervising wholesale brokers. The FCA has observed a change in the sector in recent years with larger firms acquiring smaller ones...more

A&O Shearman

New Designated Publishing Entities regime operational from 3 February

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The European Securities and Markets Authority has published a press release reminding market participants that from February 3, 2025 the new Designated Publishing Entities regime shall be operational. The DPE regime was...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q4 2024

In this issue of Wilson Sonsini's Focus on Fintech, our attorneys discuss updates and developments from federal regulators, including those related to artificial intelligence in financial markets, regulated securities...more

A&O Shearman

UK Chancellor announces engagement with financial services leaders to bolster growth plans

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HM Treasury has announced that the Chancellor will increase engagement with financial services leaders to strengthen plans to grow the economy. Over the coming months, the Chancellor plans to host a series of Industry Forums...more

A&O Shearman

International bodies report on streamlining variation margin processes and initial margin responsiveness of margin models in...

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The Basel Committee on Banking Standards and International Organization of Securities Commissions published a final report on streamlining variation margin processes and initial margin responsiveness of margin models in...more

A&O Shearman

UK Short Selling Regulations 2025 published

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The Short Selling Regulations 2025 were made and published on legislation.gov.uk, alongside an explanatory memorandum. The regulations replace assimilated law (including the U.K. Short Selling Regulation) and establish a new...more

A&O Shearman

Government response to call for evidence on pension fund clearing exemption

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HM Treasury published the Government's response to its call for evidence on the pension fund clearing exemption, which exempts pension funds from the requirement to clear certain derivative contracts via a central...more

Hogan Lovells

The Bank of England’s consultation on Fundamental Rules for financial market infrastructures – a new basis of supervision?

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The Bank of England (the “Bank”) has published a Consultation Paper proposing a set of Fundamental Rules for UK financial market infrastructures (“FMIs”) – such as central counterparties and central securities depositories. ...more

Latham & Watkins LLP

UK Government Confirms Staking Services Are Not Collective Investment Schemes

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A recent statutory instrument aims to remove legal uncertainty surrounding crypto staking and ease blockchain operations. On 9 January 2025, the UK Government published the Financial Services and Markets Act 2000...more

Latham & Watkins LLP

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2025

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In this publication, we explore some of the core focus areas for UK-regulated financial service firms in the year ahead. In 2024, we saw disruption to the regulatory reform agenda as the unexpected timing of the general...more

A&O Shearman

Bank of England policy statement and statement of policy on power to direct a CCP to address impediments to resolvability

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The Bank of England has published a statement of policy setting out its approach to exercising its power to direct a CCP to address impediments to resolvability under the Financial Services and Markets Act 2023. This power...more

A&O Shearman

Bank of England policy statement and statement of policy on commercially reasonable payments in a statutory tear up in CCP...

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The Bank of England has published a statement of policy setting out its approach to determining commercially reasonable payments to clearing members whose contracts are subject to a statutory tear up in CCP resolution,...more

A&O Shearman

International Organization of Securities Commissions Publishes Final Report on Evolution of Market Structures

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The International Organization of Securities Commissions has published its final report on the evolution in the operation, governance, and business models of exchanges. The Report focuses on equity exchanges, but IOSCO...more

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