Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: Exit Day

ESMA to Recognize Three UK CCPs in the Event of a No-Deal Brexit

Posted in Brexit, EU Developments, Financial Markets
On February 18, the European Securities and Markets Authority (ESMA) published a press release confirming that it has adopted recognition decisions to permit three UK central counterparties (CCPs) to continue to provide CCP services to EU trading venues and EU clearing members following the United Kingdom’s withdrawal from the European Union on March 29 (Exit… Continue Reading

UK Guide to Post-Brexit Financial Sanctions Published

Posted in Brexit, EU Developments, Financial Markets
On February 1, HM Treasury and the UK Office of Financial Sanctions Implementation (OFSI) published guidance on financial sanctions in preparation for the United Kingdom’s exit from the European Union on March 29 (Exit Day) on the basis of no agreement on transitional arrangements being in place with the EU (no-deal Brexit). The guidance will… Continue Reading

BoE and ESMA Agree No-Deal MoUs on Recognition of UK CCPs and CSDs

Posted in Brexit, EU Developments, Financial Markets
On February 4, the European Securities and Markets Authority (ESMA) and the Bank of England announced that they have agreed on Memorandums of Understanding (MoUs) surrounding the cooperation and information-sharing arrangements with respect to UK-based central counterparties (CCPs) and central securities depositories (CSDs) in the event of the United Kingdom’s exit from the European Union… Continue Reading

ESMA Publishes Statement on the Impact of a No-Deal Brexit on Its Databases

Posted in Brexit, EU Developments, Financial Markets
On February 5, the European Securities and Markets Authority (ESMA) issued a statement on the impact the UK’s exit from the European Union on March 29 (Exit Day) without an agreement on transitional arrangements being in place with the European Union (no-deal Brexit) would have on ESMA’s databases. In the scenario of a no-deal Brexit,… Continue Reading

Short Selling (Amendment) (EU Exit) Regulations 2018 Made in Preparation of Brexit

Posted in Brexit, Brexit/UK Developments, Financial Markets, UK Developments
On December 7, the Short Selling (Amendment) (EU Exit) Regulations 2018 (UK Regulations) were published, together with an explanatory memorandum. A draft version of the UK Regulations was published on October 10. The UK Regulations ensure that the regime established in the United Kingdom under the EU Short Selling Regulation (SSR) will continue to operate… Continue Reading

HM Treasury Publishes Updated Draft Brexit Statutory Instrument Relating to Collective Investment Schemes

Posted in Brexit, Financial Markets
On December 6, HM Treasury published updated versions of the draft Collective Investment Scheme (Amendment etc.) (EU Exit) Regulations 2018 (Draft CIS (Brexit) SI) and the related explanatory information. Draft CIS (Brexit) SI ensures that the regime established under the UCITS IV Directive for investment funds and their managers continues to operate effectively after the… Continue Reading

Electronic Money, Payment Services and Payment Systems Regulations 2018 Published

Posted in Brexit, Brexit/UK Developments, Financial Markets, UK Developments
On November 20, the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 (Regulations) were published with an associated explanatory memorandum. The Regulations make amendments to the Payment Services Regulations 2017 (PSRs) and the Electronic Money Regulations 2011 (EMRs), to ensure that the UK payments and electronic money (e-money)… Continue Reading