Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: European Parliament

UK’s EU Withdrawal Act Receives Royal Assent

Posted in Brexit, Brexit/UK Developments, EU Developments, Financial Markets, UK Developments
On June 26, the European Union (Withdrawal) Act 2018 (Withdrawal Act) received royal assent, which is the final stage for approving UK parliamentary bills. The Corporate & Financial Weekly Digest edition of July 14, 2017 included a substantive review of the Withdrawal Act. Notably, the House of Commons amended that bill to require that any… Continue Reading

European Parliament Adopts EMIR 2.1 Proposal

Posted in Derivatives, EU Developments, Financial Markets
On June 12, the European Parliament (EP) issued a press release announcing its adoption in plenary of the proposed regulation to amend the European Market Infrastructure Regulation (EMIR) in respect of, among others, clearing, reporting and risk-mitigation techniques for over-the-counter derivatives contracts not cleared by a central counterparty (CCP).… Continue Reading

ECON Publishes Proposed Amendments to Prudential Supervision of Investment Firms Directive

Posted in EU Developments, Financial Markets
On April 13, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) published a draft report, featuring the European Parliament legislative resolution with ECON’s amendments to a proposal regarding the prudential supervision of EU investment firms. This amends the Capital Requirements Directive IV and the revised Markets in Financial Instruments Directive (MiFID II) (collectively,… Continue Reading

European Parliament Adopts Fifth Money Laundering Directive

Posted in EU Developments, Financial Markets
On April 19, the European Parliament (EP) published a press release announcing its adoption of a proposal for a fifth Anti-Money Laundering Directive (MLD5). The introduction of MLD5 forms part of the European Commission’s action plan to counter terrorist financing and money laundering, published in February 2016 (further details are available in the Corporate &… Continue Reading

European Commission Adopts MiFID II Delegated Regulations

Posted in Derivatives, EU Developments, Financial Markets
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: regulation regarding the application of position limits to commodity derivatives, available here; and regulation pertaining to the criteria for establishing when an activity is considered to be ancillary… Continue Reading

European Commission Adopts MiFID II Delegated Regulations

Posted in Derivatives, EU Developments
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)… Continue Reading

Cybersecurity Directive Adopted by the EU Council

Posted in EU Developments
On May 17, the Council of the EU (Council) announced it had formally adopted the new EU Directive concerning measures for a high common level of security for network and information systems (Cybersecurity Directive). The Cybersecurity Directive establishes EU-wide security and incident notification requirements for operators of essential services (such as banking and financial market… Continue Reading

ECON Adopts Draft Report on Virtual Currencies

Posted in EU Developments
On April 26, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) confirmed it voted in favor of a proposal contained in a draft report (Report) to create a virtual currencies taskforce. The taskforce would be created to (1) build expertise in the technology of virtual currencies (such as Bitcoin), and (2) where appropriate,… Continue Reading