On July 22, the Securities and Exchange Commission announced the adoption of amendments (the Amendments) to the SEC’s rules governing proxy solicitations that are intended to “facilitate the ability of those who use proxy voting advice — investors and others who vote on investors’ behalf — to make informed voting decisions without imposing undue costs or delays that could adversely affect the timely provision of proxy voting advice.” The Amendments represent a modified version of the amendments the SEC originally proposed in November 2019, which were previously discussed in the November 8, 2019 edition of Corporate & Financial Weekly Digest.
Continue Reading SEC Adopts Amendments and Issues Guidance Related to Proxy Voting Advice

On July 9, the European Central Bank (ECB) published a blog by Yves Mersch, member of the Executive Board of the ECB and vice-chair of the Supervisory Board of the ECB, on the preparations of European Union (EU) banks for the end of the Brexit transition period (the Blog).
Continue Reading ECB Blog on Preparation for the End of the Brexit Transition Period

On January 19, the European Securities and Markets Authority (ESMA) published on its website a letter it received from the European Commission (Commission), dated December 17, 2015. The letter is in response to guidance and an opinion provided by ESMA on July 30, 2015 to the Commission, in relation to the Alternative Investment Fund Managers Directive (AIFMD) passport.
Continue Reading ESMA Publishes European Commission Letter on AIFMD Passport