On December 16, the European Securities and Markets Authority (ESMA) renewed its decision to temporarily require the holders of net short positions in shares traded on an EU regulated market to inform the relevant national competent authority (NCA) if the position reaches, exceeds or falls below 0.1 percent of the issued share capital. The measure applies starting December 19 for a period of three months (the Decision).
Continue Reading ESMA Renews 0.1 Percent Reporting Requirement Decision for Net Short Position Holders

On November 20, the Staff of the Division of Corporation Finance, the Division of Investment Management, and the Division of Trading and Markets (the Staff) of the Securities and Exchange Commission issued an updated statement on requirements for manual signatures related to SEC filings.
Continue Reading SEC Staff Issues Statement Regarding Signature Requirements

On November 17, the Securities and Exchange Commission adopted amendments to Regulation S-T to permit the use of electronic signatures in executing documents submitted electronically to the SEC through EDGAR.
Continue Reading SEC Adopts Amendments Permitting Use of Electronic Signatures for EDGAR Filings

On October 30, the European Commission (the Commission) published a letter from John Berrigan (the Commission’s Director General for Financial Stability, Financial Services and Capital Markets Union) to the European Securities and Markets Authority, European Insurance and Occupational Pensions Authority, and the European Banking Authority (jointly the European Supervisory Authorities (ESAs)) regarding a delay to the implementation of detailed subordinate rules under the Sustainable Finance Disclosure Regulation (SFDR or Disclosure Regulation) caused by the COVID-19 pandemic (the Letter).
Continue Reading ESG: European Commission Extends Consultation Period for Rules Under Disclosure Regulation

On October 8, the Commodity Futures Trading Commission (CFTC) announced that it will hold an open meeting on October 15.
Continue Reading CFTC Announces Open Commission Meeting to Consider Final Rules on Margin Requirements for Uncleared Swaps, Registration Exemptions for Foreign Intermediaries and Derivative Position Limits

On September 24, the UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) updated their respective statements, originally published in March, regarding key workers and working from home during the COVID-19 pandemic. Both the FCA and PRA advised firms to follow government advice on remote working until notified otherwise.
Continue Reading COVID-19: FCA and PRA Updates on Working from Home and Key Workers

On September 30, the UK Financial Conduct Authority (FCA) published a statement outlining an additional six month extension and amendments to a temporary coronavirus (COVID-19) measure regarding a requirement to notify investors of depreciations in the value of their account.
Continue Reading MiFID II: FCA Publishes Regulatory Forbearance on the 10 Percent Depreciation Rule

On September 21, the Division of Corporation Finance of the Securities and Exchange Commission issued a new Compliance and Disclosure Interpretation (C&DI) regarding the treatment of benefits provided to executive officers in light of the COVID-19 pandemic and whether such benefits constitute perquisites or personal benefits that must be disclosed in a registrant’s summary compensation table and included when determining the registrant’s three most highly compensated officers (other than the registrant’s principal executive officer and principal financial officer) for identifying the “named executive officers.”
Continue Reading SEC Issues C&DI on COVID-19 Related Benefits