Eversheds - Financial Institutions

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Updated: 4 days 21 hours ago

Hong Kong’s European network of Memoranda of Understanding

Fri, 06/07/2019 - 00:00
Introduction The Hong Kong Securities and Futures Commission (“SFC”) has been busy building a network of memoranda of understanding (“MoUs”) in Europe for the mutual recognition of funds, concluding MoUs with the Netherlands ...

The final AIFMD cross-border fund distribution package: delivering freedom?

Thu, 05/30/2019 - 00:00
On 24 May 2019 the European Commission published the final compromise texts, ahead of the formal signing of the amending Directive and the amending Regulation on facilitating cross-border distribution of collective investment undertakings. After the...

Payment Matters: No. 41

Thu, 05/30/2019 - 00:00
1. Strong customer authentication deadline rapidly approaching 2. The API evaluation working group publishes its latest round of clarifications 3. The European Banking Authority clarifies fraud rate rules 4. European banks express concerns regarding...

A new Remuneration Policy Statement template for Solvency II firms

Fri, 05/17/2019 - 00:00
The PRA has published a new remuneration reporting template for significant insurers (Solvency II insurance firms Categories 1 and 2). The new template must be submitted with a firm’s completed Remuneration Policy Statement (RPS) by 31 July 20...

Buy-side perspective: Final EMIR REFIT text published

Thu, 05/16/2019 - 00:00
In this briefing we summarise the issues that buy-side entities should consider in light of forthcoming changes to EMIR. Background to the EMIR REFIT Article 85(1) of European Market Infrastructure Regulation1 (“EMIR”) required the Europ...

Important update to FCA’s national private placement regime resulting from Brexit extension

Thu, 05/16/2019 - 00:00
NPPR notification process The FCA updated its national private placement regime (“NPPR”) webpage on 2 May 2019. Under the Alternative Investment Fund Managers Directive (2011/61/EU) (“AIFMD”), the NPPR allows the marketing in...

Buy-side perspective: Final EMIR REFIT text published

Thu, 05/16/2019 - 00:00
In this briefing we summarise the issues that buy-side entities should consider in light of forthcoming changes to EMIR. Background to the EMIR REFIT Article 85(1) of European Market Infrastructure Regulation1 (“EMIR”) required the Europ...

Important update to FCA’s national private placement regime resulting from Brexit extension

Thu, 05/16/2019 - 00:00
NPPR notification process The FCA updated its national private placement regime (“NPPR”) webpage on 2 May 2019. Under the Alternative Investment Fund Managers Directive (2011/61/EU) (“AIFMD”), the NPPR allows the marketing in...

The FCA published its second consultation on remedies

Thu, 05/09/2019 - 00:00
The FCA published its second consultation on remedies following the FCA’s Asset Management Market Study (AMMS), Consultation Paper CP18/9, in April 2018. On 4 February 2019 the FCA published its findings, in the form of Policy Statement PS19/4...

The FCA published its second consultation on remedies

Thu, 05/09/2019 - 00:00
The FCA published its second consultation on remedies following the FCA’s Asset Management Market Study (AMMS), Consultation Paper CP18/9, in April 2018. On 4 February 2019 the FCA published its findings, in the form of Policy Statement PS19/4...

Crypto-matters - Legal developments on crypto-assets and Blockchain technology

Tue, 05/07/2019 - 00:00
Bringing our clients the latest important legal developments related to crypto-assets and the use of Blockchain technology in financial services and markets Legislative developments There are currently indications of legislative developments to inco...

Detailed SFTR reporting requirements published

Tue, 05/07/2019 - 00:00
In this briefing we summarise the reporting requirements under the Securities Financing Transaction Regulation (“SFTR”) and the steps that in-scope entities should take to comply with them. Background The detailed EU reporting requiremen...

Crypto-matters - Legal developments on crypto-assets and Blockchain technology

Tue, 05/07/2019 - 00:00
Bringing our clients the latest important legal developments related to crypto-assets and the use of Blockchain technology in financial services and markets Legislative developments There are currently indications of legislative developments to inco...

Detailed SFTR reporting requirements published

Tue, 05/07/2019 - 00:00
In this briefing we summarise the reporting requirements under the Securities Financing Transaction Regulation (“SFTR”) and the steps that in-scope entities should take to comply with them. Background The detailed EU reporting requiremen...

Beware what you say in court...

Thu, 04/25/2019 - 00:00
Background: fitness and propriety   Rule 2.1.3G (10) of the FIT guidance in the FCA Handbook states that when assessing honesty, integrity and reputation for the purposes of a fitness and propriety assessment, an employer should have regar...

Beware what you say in court...

Thu, 04/25/2019 - 00:00
Background: fitness and propriety   Rule 2.1.3G (10) of the FIT guidance in the FCA Handbook states that when assessing honesty, integrity and reputation for the purposes of a fitness and propriety assessment, an employer should have regar...

The Dormant Assets Scheme: a blueprint for expansion

Thu, 04/04/2019 - 00:00
The Industry Champions published their report on The Dormant Assets Scheme: A Blueprint for Expansion on 4 April. Following our participation in the independent Commission on Dormant Assets in 2016 which resulted in the recommendations in March 2017...

The Dormant Assets Scheme: a blueprint for expansion

Thu, 04/04/2019 - 00:00
The Industry Champions published their report on The Dormant Assets Scheme: A Blueprint for Expansion on 4 April. Following our participation in the independent Commission on Dormant Assets in 2016 which resulted in the recommendations in March 2017...

Failure to prevent facilitation of tax evasion - Compliance levels low but businesses should act now given new corporate criminal investigations

Fri, 03/29/2019 - 00:00
What you need to know • From September 2017, every business located anywhere in the world, regardless of size or activities, has been subject to potential corporate criminal prosecution in the UK if its “associated persons” facilita...

Failure to prevent facilitation of tax evasion - Compliance levels low but businesses should act now given new corporate criminal investigations

Fri, 03/29/2019 - 00:00
What you need to know • From September 2017, every business located anywhere in the world, regardless of size or activities, has been subject to potential corporate criminal prosecution in the UK if its “associated persons” facilita...

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