Cornerstone Research Experts in Focus: Andrea Eisfeldt
Videocast: Asset management regulation in 2020 videocast series – Regulators step up pressure to implement LIBOR transition plans
Podcast: CFTC Issues LIBOR Transition Relief for Swaps
Podcast: Credit Funds: Replacing LIBOR – Steps To Consider Taking Now
Wayward Financial Institutions Facing Increasingly Stricter Punishment
Weekly Brief: New DOJ Tact Pushes Bank Subsidiaries To Admit Guilt
Weekly Brief: Will RBS Plead Guilty In LIBOR Scandal?
Corporate Law Report: U.S. Manufacturing, Social Media, Online Endorsements, Hart Scott Rodino, More
Weekly Brief: Lawyers Advised To Accept New Reality
Jonathan Armstrong on Global Regulatory Cooperation
The U.K. Financial Services and Markets Act 2023 (Commencement No. 8) Regulations 2024 have been made. The Regulations revoke certain pieces of EU law retained in the U.K. post-Brexit as well as bringing into force amendments...more
This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more
This note sets out at a high level the core regulatory issues that are likely to impact fund managers in the coming months, including an overview of the key actions needed with regard to ESG, LIBOR and Brexit. The paper also...more
ESMA reminds firms on rules of reverse solicitation - In a statement published on 13 January 2021, ESMA reminded firms not established or situated in the EU of the MiFID II requirements on the provision of investment...more
CMA 2021/22 annual plan - The Competition and Markets Authority (CMA) has published its annual plan for 2021/22. In 2021/22, the CMA will focus on the following themes...more
UK-EU trade and cooperation agreement After extensive negotiations, and within a week of the Brexit transition period ending on 31 - December 2020, the UK and the EU finally announced on 24 December 2020 that they had agreed...more
The proposed powers for the Financial Conduct Authority ("FCA") to manage the London Interbank Offered Rate ("LIBOR") transition should address so-called "tough legacy" contracts involving UK participants but could also have...more
BoE and CFTC MoU for supervision of cross-border clearing organisations - The Bank of England (BoE) and the US Commodity Futures Trading Commission (CFTC) have signed an updated memorandum of understanding (MoU) regarding...more
The Financial Services Bill was introduced in Parliament on 21 October 2020. According to the UK Government, the Bill is designed to “ensure the UK’s world-leading financial services sector continues to thrive and grasp new...more
Brexit: ESMA to recognise three UK CCPS from 1 January 2021 - The European Securities and Markets Authority (ESMA) has announced that three central counterparties (CCPs) established in the UK will be recognized as...more
Katten's London affiliate office launched its weekly fireside chat on May 5, 2020 and each week has covered a wide range of interesting UK and EU financial services regulatory topics. We have received some fantastic feedback...more
Recent regulatory developments of interest to all financial institutions. Includes updates on COVID-19, FCA guidance on assessing adequate financial resources, and European Commission draft legislation incorporating...more
COVID-19: FCA speech on expectations of wealth management and advice industry - On 4 June 2020, the UK Financial Conduct Authority (FCA) published a speech by Megan Butler, FCA Executive Director of Supervision,...more
On 17 March 2020, the FCA published a new webpage providing information on its expectations of firms’ response to the coronavirus. It will update the webpage over the coming weeks and expects to adapt its guidance...more
COVID-19: PRA Dear CEO letter on IFRS 9, capital requirements and loan covenants - On 26 March 2020, the Prudential Regulation Authority (PRA) published a Dear CEO letter giving guidance on consistent and robust...more
The U.K. Financial Conduct Authority has written to the CEOs of benchmark administrators that it supervises. In the letter, the FCA sets out its supervisory strategy as well as the potential harms that benchmark...more
Welcome to the 2020 edition of In Principle. With the United Kingdom (UK) leaving the European Union (EU) on31 January 2020, and moving into a transition period which will last until 31 December 2020, Brexit of courselooms...more
The U.K. Financial Policy Committee has issued a summary of the resilience of the U.K. financial system to potential economic shocks and the vulnerabilities it faces. The summary follows the FPC’s meeting on October 2, 2019,...more
We are all going to be heartedly sick of discussing LIBOR and LIBOR transition long before it becomes a thing at the end of 2021, but we really need to get this done. I can’t make this at all funny. We have a problem…but not...more
1 February - The Financial Conduct Authority ("FCA") published a press release announcing that it has agreed with the European Securities and Markets Authority ("ESMA") and other European Union securities regulators...more
In the 2018 edition of this publication, we ended the introduction with the line, “We can only hope that we will enter 2019 with greater certainty than 2018 as to how the regulatory landscape will look.” Unfortunately,...more
Allen & Overy publish weekly updates on key regulatory topics affecting the financial services sector. BREXIT - Please see the product sections for updates on the various draft SIs published this week in anticipation of...more
1 March - The Financial Conduct Authority ("FCA") published general insurance value measures data in relation to 36 insurers (including both UK and EEA firms) for the year ending 31 August 2017. The data is aimed at...more
BREXIT - UK Government response to HoC Treasury Committee report on transitional arrangements - On 27 February, the HoC Treasury Committee published the UK government's response to the Committee's report on transitional...more