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Financial Services Industry Cross-Border Transactions European Union

K&L Gates LLP

Europe: Ireland's New Participation Exemption – An Opportunity for Private Markets Asset Managers

K&L Gates LLP on

The Irish Finance Bill 2024 will, with effect from 1 January 2025, create a new participation exemption for foreign dividends. This exemption will bring Ireland into line with the rest of the EU which has a similar exemption....more

Jones Day

CRD VI and the New EU Third-Country Branch Regime: Harmonization Means Restricted Access

Jones Day on

The Situation: The European Union ("EU") banking legislation has been substantially reviewed and provides notably for a new regime applicable to cross-border activities from non-EU jurisdictions....more

Cadwalader, Wickersham & Taft LLP

CRD VI and Its Impact on Lending into Europe

December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package’ that makes significant changes to the Capital Requirements Directive known as ‘CRD VI’. This article is going to focus on the CRD...more

Seward & Kissel LLP

Simply Speaking - October 2023: Marshall Islands Netting Act

Seward & Kissel LLP on

On September 28, 2023, the Nitijela of the Republic of the Marshall Islands (“Nitijela”) during the 44th Constitutional Regular Session, 2023, enacted the Netting Act, 2023 (the “Netting Act”), which was certified by the...more

Sullivan & Worcester

Trade Finance in the Digital World – What Changes are Likely in the Coming Months and Years?

Sullivan & Worcester on

Foreword by Geoffrey Wynne - Much has been written – and will be written – about the need to digitise trade transactions. Less use of paper and greater speed and efficiency are some of the reasons for this. The...more

Goodwin

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

Goodwin on

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

Cadwalader, Wickersham & Taft LLP

ESMA Publishes Final Cross-Border Marketing Technical Standards

On 21 December 2022, ESMA published a final report in relation to draft technical standards for cross-border fund management activities and the cross-border marketing of investment funds within the EEA under the UCITS and...more

A&O Shearman

UK Government Announces "Brexit Freedoms Bill"

A&O Shearman on

U.K. Prime Minister Boris Johnson has announced that a "Brexit Freedoms Bill" will be put before Parliament. Upon Brexit taking effect, all then in force EU Regulations were "on-shored" automatically into U.K. laws, pursuant...more

Hogan Lovells

Global Payments Newsletter, December 2021

Hogan Lovells on

Key developments of interest over the last month include: In this Newsletter: For previous editions of the Global Payments Newsletter, please visit our Financial Services practice page. It is expected that the implementation...more

Hogan Lovells

Brexit: OLG München verneint Rechts- und Parteifähigkeit einer in Deutschland verwalteten UK Limited

Hogan Lovells on

"Brexit means Brexit" – so urteilte das OLG München Anfang August dieses Jahres. Das Gericht hatte über die Parteifähigkeit einer Gesellschaft zu entscheiden, die zwar als UK Limited gegründet wurde aber tatsächlich in...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Proposes Harmonisation of Fund Pre-marketing Rules, but Barriers Remain for Non-EU Sponsors

The European Union’s new cross-border fund distribution legislation comes into effect August 2, 2021, updating the existing framework for marketing alternative investment funds (AIFs) in the European Union (EU). The changes...more

White & Case LLP

Financial Services Regulatory: Equivalence Tracker

White & Case LLP on

The UK's departure from the EU has created new uncertainties in EU-UK cross-border financial services. One such area is the regulatory landscape that EU and UK financial services firms will have to navigate when doing...more

Sheppard Mullin Richter & Hampton LLP

Nota Bene Episode 115: European Q1 Check In: Brexit, Digital Markets Act, and the New Europe with Oliver Heinisch

Joining Michael this week for the podcast quarterly check in with Europe is International Competition specialist Oliver Heinisch from London. We discuss the “New Europe,” tracking immediate impacts of Brexit on the United...more

K&L Gates LLP

New UK Requirements on Cross-Border Payments – "Onshoring" and Practical Issues

K&L Gates LLP on

The Cross-Border Payments Regulation (EC) No 924/2009 (CBPR) is the EU legislation that sets out the principle of equality of charges for intra-EU cross-border euro payments and corresponding national payments within an EU...more

Hogan Lovells

Payments regulatory news, December 2020

Hogan Lovells on

UK payment systems: Pay.UK recommendations for adopting ISO 20022 - Pay.UK published a report containing conclusions and recommendations relating to adopting the common global messaging standard for UK payments, known as...more

Hogan Lovells

Global Payments Newsletter, October 2020

Hogan Lovells on

Europe: European Commission communication on EU Retail Payments Strategy - On 24 September 2020 the European Commission published a communication setting out an EU Retail Payments Strategy identifying key priorities and...more

Latham & Watkins LLP

UK Firms Granted Extra 15 Months for Brexit Onshoring Preparations

Latham & Watkins LLP on

The FCA, Bank of England, and PRA have published updated rules for firms post-Brexit and intend to delay many (but not all) onshoring changes. Key Points: ..The FCA has published an updated version of the FCA Handbook,...more

Hogan Lovells

Financial institutions general regulatory news, July 2020 #4

Hogan Lovells on

BigTech: International Banking Federation report - The House of Lords EU Services Sub-Committee has published the letter it has sent to John Glen, Economic Secretary and City Minister, on the UK-EU negotiations in...more

Hogan Lovells

Payments regulatory news, July 2020 #4

Hogan Lovells on

EU Regulation on cross-border payments: European Commission adopts legislative proposal. Australia: Open banking launches with the initiation of the Consumer Data Right. Customers of Australia's four major banks can choose...more

A&O Shearman

EU Council Authorizes European Commission to Negotiate Post-Brexit Trade Agreement with the UK

A&O Shearman on

The Council of the European Union has authorized the opening of negotiations with the U.K. for a new partnership agreement between the U.K. and the EU. The Council's Decision (dated February 13, 2020) authorizes the opening...more

A&O Shearman

U.K. Prime Minister Sets Out Plan for Post-Brexit Relationship with EU

A&O Shearman on

The U.K. Prime Minister, Boris Johnson, has published a written statement on the U.K. Government’s proposed approach to negotiations on the U.K.’s future relationship with the EU. The U.K. formally left the EU on January 31,...more

A&O Shearman

European Commission Takes First Step to Formally Open Negotiations With UK on Future Relationship

A&O Shearman on

The European Commission has published a Recommendation for a Decision by the Council of the European Union authorizing the opening of negotiations for a trade deal between the U.K. and the EU...more

A&O Shearman

UK Legislation Published Delaying Brexit Transitional Regimes to End of Implementation Period

A&O Shearman on

The Financial Services (Consequential Amendments) Regulations 2020 have been published by the U.K. Government. The Regulations delay the application of various financial services temporary permissions and transitional regimes...more

A&O Shearman

UK Government Confirms Aim of Achieving Equivalence for Financial Services by End June 2020

A&O Shearman on

HM Treasury has published a letter addressed to the Chair of the European Union Committee of the House of Lords concerning equivalence for financial services as a result of Brexit. In the letter, HM Treasury confirms that the...more

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