Topic: Financial Services

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Consob suspends ICO

The Italian financial services regulator, the Commissione Nazionale per le Società e la Borsa (Consob), has recently been in the news for suspending an initial coin offering (ICO) to the Italian public. The full text of the Consob resolution (no. 20660 dated 31 October 2018) is available in Italian here. Essentially, Consob held that the … Continue Reading

Draft EEA Passport Rights (Amendment, etc, and Transitional Provisions) (EU Exit) Regulations 2018

On 24 July 2018, HM Treasury published a draft version of the EEA Passport Rights (Amendment, etc, and Transitional Provisions) (EU Exit) Regulations 2018. Among other objectives, the draft Regulations aim to: Remove references to passporting set out in the Financial Services and Markets Act 2000 and in other UK legislation, in preparation for Brexit; … Continue Reading

Covered bonds in Canada – an increased regulatory stance

The Office of the Superintendent of Financial Institutions (OSFI), the federal financial institutions prudential regulator, recently addressed the issue of a cap on issuance of covered bonds which presently stands at 4% of a bank’s total assets. OSFI is now taking a hard look at this limit and is doing so in the context of … Continue Reading
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