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IOSCO guidance addresses conflicts of interest and conduct risks in equity capital raising
The Board of the International Organization of Securities Commissions (IOSCO) published guidance to help its members address conflicts of interest and associated misconduct risks that may...
European Regulator seeks simplifications to format and content of prospectus
The European Securities and Markets Authority (ESMA) published the first Part of its Technical Advice (TA) under the Prospectus Regulation. The TA is published in...
Commission consults on building a proportionate regulatory environment to support SME listing
The European Commission has published a consultation on building a proportionate regulatory environment to support SME listing. The Commission statement invites all citizens and organisations...
ESMA consults on Requirements under new Securitisation Regulation
The European Securities and Markets Authority (ESMA) has published three consultation papers on draft technical standards implementing the Securitisation Regulation (SR). The Regulation establishes a...
ESMA consults on aspects of new Prospectus Regulation
The European Securities and Markets Authority (ESMA) today launches a consultation on draft Regulatory Technical Standards (RTS) under the new Prospectus Regulation (Regulation (EU) 2017/1129). These RTSs...
ESMA updates guidance on Market Soundings and Insider Lists under MAR
The European Securities and Markets Authority (ESMA) has updated its Questions & Answers (Q&A) document regarding the implementation of the Market Abuse Regulation (MAR).The European...
ESMA provides implementing details for SFTR
The European Securities and Markets Authority (ESMA) has issued today a final report on standards implementing the Securities Financing Transaction Regulation (SFTR), which aims to...
ESMA discusses haircuts in EU securities financing transactions
The European Securities and Markets Authority (ESMA) issued a research piece on shadow banking published in its recent report on trends, risks and vulnerabilities (TRV)....
IOSCO seeks public comment on its analysis of liquidity in corporate bond markets
The Board of the International Organization of Securities Commissions (IOSCO) is seeking public comment on its consultation report entitled Examination of Liquidity of the Secondary...
ESMA issues overview of European prospectus activity
The European Securities and Markets Authority (ESMA) has published today statistical data on the number of prospectuses approved and passported by the National Competent Authorities...
Global Head of FX Cash Trading arrested for front-running and charged with criminal fraud
The U.S. Department of Justice has published a statement with regard to the arrest of a senior investment banker at JFK airport in relation to allegations...
FCA fines Non-Executive Director for insider dealing and improper disclosure
The FCA has today fined Gavin Breeze £59,557 for engaging in market abuse in the form of insider dealing and has also publicly censured him...
ESMA publishes guidelines on market soundings and delayed disclosure under MAR
The European Securities and Markets Authority (ESMA) has issued today final guidelines clarifying the implementation of the Market Abuse Regulation (MAR) for persons receiving market...
ESMA clarifies timing of closed period under Market Abuse Regulation
The European Securities and Markets Authority (ESMA) has updated today its Questions & Answers (Q&As) regarding the implementation of the Market Abuse Regulation (MAR). The...
BIS updates standard for the regulatory capital treatment of securitisation exposures
The Basel Committee on Banking Supervision today published an updated standard for the regulatory capital treatment of securitisation exposures. By including the regulatory capital treatment...
Ready for the new Market Abuse Regulation? Applicable from 3 July!
Starting Sunday, 3 July, the new EU Market Abuse Regulation (MAR) is applicable in member states of the European Union. It brings significant changes to...
ESMA reminds issuers Alternative Performance Measures Guidelines come into force on 3 July
The European Securities and Markets Authority (ESMA) wishes to remind listed issuers and persons responsible for drawing up prospectuses that its Guidelines on Alternative Performance...
New EU rules to fight market abuse in Europe’s financial markets take effect
The European Commission today published a statement in relation the new EU Market Abuse Regime. A revamped EU legal framework, applicable as of 3 July,...
Head of ESMA speaks about reporting of repos and securities lending trades.
Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), today gave a speech at the International Securities Lending Association’s (ISLA) 25th Annual Securities...
ESMA disagrees with Commission on inside information disclosure under MAR
The European Securities and Markets Authority (ESMA) has issued today an Opinion in response to a notification by the European Commission about intended changes on...
EBA publishes final draft technical standards on specialised lending exposures
The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) specifying how institutions should take into account and treat several factors...
Two convicted of insider dealing in Operation Tabernula trial
The Financial Conduct Authority (FCA) today published a statement in relation to the conviction of two for insider dealing. In a case brought by the FCA and...
FCA consults on availability of information in the IPO process
The FCA has published today a consultation paper on the availability of information in the UK Equity IPO process (DP 16/3). As part of the...
FCA briefs on factors influencing IPO allocations to investors
The FCA today published its Occasional Paper No. 15: "Quid pro quo? What factors influence IPO allocations to investors?". In this paper the regulators seeks to understand if the...
ESMA updates its Q&A document on prospectus related issues
The European Securities and Markets Authority (ESMA) has updated its Questions and Answers document (Q&A) on prospectus related issues. The Q&A includes two new questions...
The 7 Deadly Sins of Market Abuse (Part VII): Distortion and misleading behaviour
And now for the grand finale, the last of the 7 market abuse offences: Distortion and misleading behaviour, which is where the behaviour: (a) is...
The 7 Deadly Sins of Market Abuse (Part VI): Dissemination
Welcome to our sixth posts of this series that looks at the offence of Dissemination. Dissemination is defined as giving out information that conveys a...
The 7 Deadly Sins of Market Abuse (Part V): Manipulating devices
How do you follow an act like Manipulating Transactions from our last post of this series? Especially when Manipulating Devices can be considered an extension...
The 7 Deadly Sins of Market Abuse (Part IV): Manipulating transactions
Today’s post is a true highlight as the offence of Market Abuse in the form of Manipulating Transactions has it all: Fancy jargon, hefty fines...
The 7 Deadly Sins of Market Abuse (Part III): Misuse of information
Welcome to Part III of our series on the seven market abuse offences as we know them in the regulatory regime of the UK. This...
The 7 Deadly Sins of Market Abuse (Part II): Improper Disclosure
Part II of our series of the 7 Deadly Sins of Market Abuse looks at the offence of Improper Disclosure. This is the case when...
FCA consults on the Knowledge Base
The FCA today issued GC16/3: Primary Market Bulletin No. 13, in which it consults on proposed changes to the Knowledge Base. This guidance is likely to be...
FCA issues findings on research and due diligence of products and services
The FCA has published its review TR16/1: Assessing suitability: Research and due diligence of products and services, where it sets out the high level findings of our...
FINRA bars investment firms VP and Broker Friend in Insider Trading Scheme
The Financial Industry Regulatory Authority (FINRA) announced today that it has barred David Michael Gutman, a Vice President in the conflicts office of J.P. Morgan...
FCA publishes Handbook Notice 29
The FCA today published its FCA Handbook Notice 29, which introduces the Handbook and other material made by the Financial Conduct Authority (FCA) Board under its...
ESMA consults on Market Soundings and Delayed Information under MAR
The European Securities and Markets Authority (ESMA) has opened today a public consultation on draft guidelines clarifying the implementation of the Market Abuse Regulation (MAR)....
FCA publishes regulation round-up January 2016
The FCA has published its monthly e-mail to all regulated firms with an update on the latest news that affect the sector. The paper can...
The 7 Deadly Sins of Market Abuse: Part I – Insider Dealing
As promised we are trying to shed some more light on the specifics of Market Abuse and have therefore started our new series of articles...
EBA consults on draft guidelines on implicit support for securitisation transactions
The European Banking Authority (EBA) launched today a public consultation on draft Guidelines on implicit support for securitisation transactions. The objective of the Guidelines is...
Latest BaFIN Journal has been published
BaFIN, the German financial regulatory authority, has today published its latest issue of the BaFIN Journal, its monthly bulletin that contains technical articles, interviews and reports on important...
SEC barres Cohen for supervisory failures of insider trading employee
The Securities and Exchange Commission today announced that hedge fund manager Steven A. Cohen will be prohibited from supervising funds that manage outside money until...
FINRA’s 2016 Focus on Supervision, Liquidity and Securities Firms’ Culture
The Financial Industry Regulatory Authority (FINRA) today released its 2016 Regulatory and Examination Priorities Letter highlighting three broad issues – supervision, risk management and controls;...
