On July 27, the UK’s Financial Conduct Authority (FCA) launched its enhanced Financial Services Register (the Register) and published an accompanying statement.

The new Register aims to further protect consumers by making it easier for users to navigate and understand the information provided.
Continue Reading FCA Launches Enhanced Financial Services Register

Katten hosts a weekly, 15-minute fireside chat podcast series on notable UK and European developments from the prior week’s Corporate & Financial Weekly Digest. This week, Carolyn Jackson covers the Commodity Futures Trading Commission’s approval of the final cross-border swaps rule, including a discussion of the CFTC’s revised rules applicable to non-US swap dealers

On July 24, the European Commission (the Commission) adopted a legislative proposal to amend the Prospectus Regulation and assist with the recapitalization of companies that have been affected by the COVID-19 pandemic (the Proposal).

The key changes under the Proposal are:
Continue Reading COVID-19: European Commission Adopts Proposal to Amend Prospectus Regulation

On July 28, the European Securities and Markets Authority (ESMA) published an updated version of its opinion on determining third-country trading venues (TCTVs) for the purpose of post-trade transparency under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) (the Opinion).
Continue Reading ESMA Updates Transparency Opinions for Third-Country Trading Venues Under MiFID II

On July 28, the European Securities and Markets Authority (ESMA) published a statement confirming that it is working on a proposal to delay the enactment of the Central Securities Depositories Regulation (CSDR) settlement discipline regime until February 1, 2022 due to the impact of the COVID-19 pandemic and subsequent request from the European Commission (the

On July 30, the European Securities and Markets Authority (ESMA) published its decision in the Official Journal of the EU to extend the reporting requirement for holders of 0.1 percent net short positions in EU shares until September 17, 2020 (the Decision).
Continue Reading ESMA Confirms Extension of 0.1 Percent Net Short Position Reporting in EU Shares Until September 17

Katten hosts a weekly, 15-minute fireside chat podcast series on notable UK and European developments from the prior week’s Corporate & Financial Weekly Digest. This week, Neil Robson covers some proposed changes to the UK Financial Promotions/ investment advertising rules, including a proposal to include cryptoassets, as well, separately, as a proposal for a

On July 20, HM Treasury published two separate consultation papers related to proposed reforms to the regulatory framework for the approval of financial promotions under the Financial Services and Markets Act 2000 (FSMA). While separate, the government recommends that they are read in conjunction with each other.
Continue Reading HM Treasury Consults on Reforms to Financial Promotion Approvals and Expanding Rules to Cover Cryptoasset Promotions

On July 20, HM Treasury published a policy statement about changes it intends to make to the UK Financial Conduct Authority’s (FCA) process for cancelling firms’ authorizations.
Continue Reading HM Treasury Publishes Policy Statement on Intended Changes to FCA’s Cancellation of Authorization Process

On July 23, the Commodity Futures Trading Commission held an open meeting at which it approved an Amendment Order that (1) exempted 16 additional multilateral trading facilities (MTFs) and organized trading facilities (OTFs) authorized within the European Union (EU) from the requirement to register as swap execution facilities (SEFs); and (2) clarified the application of the existing order to UK based MTFs and OTFs during the UK’s Brexit transition period.
Continue Reading CFTC Approves Exempt SEF Amendment Order for Certain EU MTFs and OTFs