On 29 March 2019, the European Securities and Markets Authority (ESMA) published a final report containing guidelines on risk factors under the Prospectus Regulation (PR). ESMA is mandated to provide the guidelines under Article 16(4) of the PR to assist Member State competent authorities in their review of the specificity and materiality of risk factors
Commission Implementing Regulation (EU) 2016/2070 specifies institutions’ reporting requirements to the European Banking Authority (EBA) and to Member State competent authorities in order to enable the EBA and Member State competent authorities to carry out their assessments of internal approaches in accordance with Article 78 of Directive 2013/36/EU (the benchmarking exercise).
On 29 March 2019,
On 29 March 2019, the European Securities and Markets Authority updated its Q&As on:
On 29 March 2019, the Single Resolution Board (SRB) published a position paper setting out its expectations as regards the resolvability of banks in the context of Brexit.
The position paper aims to ensure that the powers of Banking Union resolution authorities are effective in achieving the resolution objectives at the time of resolution. These
Last month, the Venezuelan Ministry of National Commerce issued a notice requiring patent and trademark fees to be paid in the cryptocurrency issued by the Venezuelan government — the Petro, which supposedly is backed by Venezuela’s oil and mineral reserves.
As noted in previous posts, the United States has been increasing its economic sanctions
After five hours of debate, MPS voted 344 to 286 to reject a Government motion which would have approved the draft Withdrawal Agreement.
A House of Commons library paper on the debate stated the following in the instance where the Commons does not approve the Withdrawal Agreement:
“If the UK Parliament does not approve the
On 14 March, the UK Export Finance (UKEF) announced the adoption of the revised OECD Council recommendation on Bribery and Officially Supported Export Credits (the Recommendation), to prevent bribery in international business transactions.
The Recommendation, while not legally binding, strengthens anti-bribery and corruption policies and procedures across adherent Export Credit Agencies (ECAs). Current adherents to
On 28 March 2019, the Competition and Markets Authority (CMA) published the final report of their funerals market study. The CMA launched a review of the funerals industry on 1 June 2018, amid concerns that prices had been increasing substantially and that funerals had become unaffordable for many.
The CMA has concluded that no evidence
On 28 March 2019, the FICC Markets Standards Board (FMSB) published a statement of good practice for FICC market participants in relation to conduct risk in market transactions. Eight good practice statements are included in Section V of the document, which include:
On 27 March 2019, The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019 were made and published on legislation.gov.uk along with an explanatory memorandum. Our earlier blog on the content of these Regulations is here.
You can track the financial services Brexit EU Exit statutory instruments (as well