On February 15, the Council of the European Union (the Council) published a press release announcing the adoption of a “quick fix” amendment to the revised Markets in Financial Instruments Directive (MiFID II) in response to the economic impact caused by the COVID-19 pandemic (the Amendment).
The key changes to MiFID II in the Amendment include:
Continue Reading MiFID II “Quick Fix” Adopted in Response to COVID-19
On November 14, a technical agreement was reached between the negotiators of the UK and the EU in relation to the terms of the withdrawal of the UK from the EU (the Withdrawal Agreement). Published alongside the Withdrawal Agreement was a non-binding Political Declaration, providing an overview of the intended future relationship between the UK and EU.
Continue Reading UK and EU Publish Draft Brexit Withdrawal Agreement
Following months of, at times, protracted negotiations, the UK and European Union (EU) negotiating teams have published the text of an agreement on the terms of the UK’s withdrawal from the EU.
These negotiations have focused on three primary topics:
Continue Reading UK and EU Reach Agreement on the First Phase of Brexit Negotiations
On February 1, the House of Commons voted on the European Union (Notification of Withdrawal) Bill (Bill), which, when passed, will allow the Prime Minister to notify the European Council of the United Kingdom’s intention to withdraw from the European Union. Further information on the Bill can be found in the Corporate & Financial Weekly Digest edition of January 27, 2017.
Continue Reading UK House of Commons Votes on the Brexit Bill and Government Issues White Paper
On January 24, the UK Supreme Court issued its judgment in R (on the application of Miller and Dos Santos) v Secretary of State for Exiting the European Union—the appeal of the High Court of Justice’s decision of November 3, 2016—on the proper constitutional process that the UK government must follow in submitting notice to the European Council to start the two-year withdrawal negotiations, pursuant to Article 50 of the Treaty on the Functioning of the European Union.
Continue Reading UK Supreme Court Rules That Article 50 Requires an Act of Parliament and Government Publishes Withdrawal Bill
On December 15, 2016, the European Council (Council) published a statement (Statement) following an informal meeting of the heads of state and government of the 27 EU member states excluding the United Kingdom (EU 27), as well as the presidents of the Council and the European Commission (Commission).
Continue Reading Brexit Update: The EU Endorses Procedures for Negotiations With the UK
On December 1, the European Commission adopted two delegated regulations (together, Delegated Regulations) to supplement the revised Markets in Financial Instruments Directive. The Delegated Regulations adopted include:
…
On May 24, the European Commission (EC) adopted two delegated acts to supplement the amended and restated Markets in Financial Instruments Directive (MiFID II). The delegated acts both take the form of a regulation (together, Delegated Regulations) and cover: (1) the admission of financial instruments to trading on regulated markets (Admission Delegated Regulation), and (2) the suspension and removal of financial instruments from trading on regulated markets (Suspension Delegated Regulation).
Continue Reading European Commission Adopts MiFID II Delegated Regulations
On May 18, the European Commission (EC) adopted a delegated act to supplement the Markets in Financial Instruments Regulation (MiFIR). The delegated act is in the form of a regulation (Delegated Regulation) and covers definitions, transparency, portfolio compression and supervisory requirements on product intervention and position management under MiFIR.
Continue Reading European Commission Adopts MiFIR Delegated Act
