France

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ESMA board of supervisors and FCA CEO exchange views

On 9 April 2021, the European Securities and Markets Authority (ESMA) published a summary of conclusions following its meeting of board of supervisors on 23 February 2021. Among other things the summary refers to co-operation with the UK FCA and meeting its CEO Nikhil Rathi. The summary notes that there was an exchange of views … Continue Reading

ESMA clarifies corporate disclosures obligations for UK issuers after Brexit

On 31 March 2021, the European Securities and Markets Authority (ESMA) issued a statement concerning the application of transparency requirements by UK issuers with securities admitted to trading on regulated markets in the EU under Article 4 of the Transparency Directive (TD). ESMA is issuing the statement to promote common supervisory practices among Member State … Continue Reading

Technical negotiations concluded on UK – EU Memorandum of Understanding

On 26 March 2021, HM Treasury issued a press release stating that technical discussions on the text of the Memorandum of Understanding (MoU), which was agreed in a Joint Declaration on Financial Services Regulatory Cooperation alongside the Trade and Cooperation Agreement, have now been concluded. The statement adds that formal steps need to be undertaken … Continue Reading

Brexit – Reminder from the French regulator to UK financial institutions on their obligations towards customers residing in France

On 4 January 2021, the French regulator (the Autorité de Contrôle Prudentiel et de Résolution – ACPR) issued a press release reminding UK authorised financial institutions (including those located in Gibraltar) of their obligations towards customers residing in France. As of 1 January 2021, European law is no longer applicable in the United Kingdom (UK). … Continue Reading

Brexit – France clarifies the form and content of the information to be provided by UK insurers to their French insureds and policyholders following Brexit – Update

As mentioned in our previous post published in April 2019, the French Ministry of Economy and Finance passed a decree dated 22 March 2019 (the March 2019 Decree) implementing the provisions of the ordinance n°2019-75 of 6 February 2019, introducing a contingency plan for the financial services sector in connection with the withdrawal of the … Continue Reading

France clarifies the form and content of the information to be provided by UK insurers to their French insureds and policyholders following Brexit in the event of a no-deal

On 22 March 2019, the French Ministry of Economy and Finance passed a decree (the Decree) implementing the provisions of the ordinance n° 2019-75 of 6 February 2019, introducing a contingency plan for the financial institutions sector in connection with the withdrawal of the United Kingdom (UK) from the European Union (EU) (the Ordinance). As … Continue Reading

Paris Brexit Financial Institutions’ seminar & cocktails – 12 February 2019

We are pleased to announce that our Financial Institutions (FI) team will hold a Brexit seminar in February 2019 in Paris. The objective of the seminar is to create awareness of the impact on the European financial institutions industry doing business in the UK after Brexit. Our Paris and London FI experts will give an overview … Continue Reading

Special alert: The French Prudential Control and Resolution Authority and the French Financial Markets Authority are simplifying and speeding up licensing procedures in the context of Brexit

The French Prudential Control and Resolution Authority (Autorité du Contrôle Prudentiel et de Résolution, or ACPR) and the French Financial Markets Authority (Autorité des Marchés Financiers, or AMF) have announced a joint initiative intended both to reassure certain British institutions (including British subsidiaries of other institutions) as to the possible consequences of a “hard Brexit” … Continue Reading
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