On 18 August 2022, the Financial Conduct Authority (FCA) updated their webpage on Consultation Paper 22/5 ‘Proposed changes to allow companies to use a more up to date electronic format for their annual financial reports’.
The webpage has added new text under the section ‘Respond to this consultation’ stating that, the consultation has
On 17 August 2022, the Financial Conduct Authority (FCA) updated their webpage on Discussion Paper 22/2: Primary Markets Effectiveness Review: Feedback to the discussion of the purpose of the listing regime and further discussion.
The webpage has updated the section on ‘Next steps’ noting that the period for commenting on the Discussion Paper
In a decision with significant implications for securities litigation and enforcement, the United States Court of Appeals for the Second Circuit recently rebuffed an attempt by the US Securities and Exchange Commission (SEC) to broaden the scope of “scheme liability” under Section 10(b) of the Securities Exchange Act of 1934 and Section 17(a)
Banks around the world routinely transmit money into and out of New York, a global financial and commercial center. The Second Circuit’s recent opinion in Daou v. BLC Bank, S.A.L. serves as a reminder that New York courts will not open their doors and exercise personal jurisdiction over foreign banks absent a specific connection between
The Norton Rose Fulbright annual Markets Infrastructure seminar is back!
Please join us from 15:45 – 19:00 on Thursday, 8 September 2022 for an update and discussion on key topics in the world of trade and post-trade. The seminar will be of interest to legal, compliance and risk professionals working with the buy and sell
On 16 August 2022, the Financial Conduct Authority (FCA) published a statement on the Investment Firm Prudential Regime (IFPR) and eligibility for enhanced Senior Managers and Certification Regime (SM&CR) status as a Significant SYSC firm.
The statement provides that, since the FCA provided a new definition of ‘significant SYSC
On 16 August 2022, the European Commission published Commission Delegated Regulation of 16.8.2022 supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) specifying exotic underlyings and the instruments bearing residual risks for the purposes of the calculation of own funds requirements for residual risks.
The final draft
On 16 August 2022, the Financial Conduct Authority (FCA) published a statement encouraging issuers and bond holders of outstanding LIBOR-linked bonds to consider taking necessary action to transition outstanding LIBOR-linked bonds to fair alternative rates.
The FCA is encouraging:
On 16 August 2022, the European Commission published Commission Delegated Regulation (EU) of 3.8.2022 amending the regulatory technical standards (RTS) laid down in Delegated Regulation 2018/389 as regards the 90-day exemption for account access.
The final draft RTS introduces into Commission Delegated Regulation 2018/389 a new mandatory exemption from the requirement to apply
On 28 July 2022, the Office of Financial Sanctions Implementation (OFSI) updated its general guidance for financial sanctions under the Sanctions and Anti-Money Laundering Act 2018. The guidance outlines firms’ obligations under financial sanctions, as well as OFSI’s approach to licensing and compliance issues. It takes into account relevant case law and guidance