Italy

#MAR_bitesize

New Market Abuse powers for the FCA   The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 On 29 June 2016, the Government adopted the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (the "regulations").  This left … Continue reading

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Filed under Estonia, EU, Europe, European Regulation, FCA, France, Germany, Italy, Liechtenstein, UK Regulations, Uncategorized

#MAR_bitesize

Extra-territorial scope of MAR: impact on non-EU firms Article 2(4) of MAR applies the "prohibitions and requirements" within MAR to behaviour that occurs both within the EU and in a third county.  In other words, MAR is intended to have … Continue reading

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Filed under EU, Europe, European Regulation, France, Germany, Investment banking, Italy, Spain, Ukraine

#MAR_bitesize

Suspicious transaction and order reporting Under Article 16 of MAR, market operators and investment firms operating a trading venue1, and any person professionally arranging or executing transactions, should have in place arrangements, procedures and systems for the detection and reporting … Continue reading

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Filed under EU, Europe, FCA, France, Germany, Italy, Uncategorized

Market abuse update – April 2016

This will be our last quarterly Market Abuse update before 3 July 2016, the date when both the new Market Abuse Regulation and the Criminal Sanctions (Market Abuse) Directive come into application across Europe. Some significant pieces of the regulatory … Continue reading

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Filed under Americas, Asset management, Australia, Banking, Estonia, EU, Europe, European Regulation, France, Germany, Insurance, Investment banking, Investment Funds, Italy, Liechtenstein, Spain, Ukraine, Uncategorized, US

Finding a data compromise: what the EU Data Protection Regulation compromise says

After almost four years of debate, the European Commission, Parliament and Council finally reached political agreement on the proposed General Data Protection Regulation (the "GDPR") in December 2015.

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Filed under Asset management, Banking, Estonia, European Regulation, France, Germany, Insurance, Investment Funds, Italy, Liechtenstein, Spain

EU reaches agreement on the General Data Protection Regulation

After almost four years of debate, the European Commission, Parliament and Council have finally reached political agreement on the proposed General Data Protection Regulation (the "GDPR"). The final text of the GDPR will now need to be formally approved by … Continue reading

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Filed under EU, France, Germany, Italy, Spain, UK

Market Abuse update – August 2015

The second quarter of 2015 saw continued regulatory focus on market and benchmark misconduct: the FCA and the US regulators imposed a series of record-breaking fines.  The FCA’s latest Board minutes refer to a strong pipeline of expected cases, and … Continue reading

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Filed under Americas, Asia, France, Hong Kong, Italy, UK

EU: ESMA disagrees with the EBA on proportionality: guidelines on remuneration under UCITS V are published for consultation

On 23 July 2015, the European Securities and Markets Authority (“ESMA”) published its draft guidelines on the implementation of the UCITS V remuneration principles for consultation.  In the consultation, ESMA’s approach to the application of proportionality differs from that of the European Banking Authority (EBA) … Continue reading

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Filed under EU, Europe, France, Germany, Italy, Remuneration, Spain

OECD Foreign Bribery Report

The Organisation for Economic Cooperation and Development (OECD) released its Foreign Bribery Report (Report) this week.  The Report is the OECD’s first ever analysis of foreign bribery on a global scale.  It analyses 427 legal cases involving companies (164 cases) and … Continue reading

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Filed under Africa, Americas, Asia, Australia, Bribery and Corruption, British Virgin Islands, Cambodia, Cayman, China, Dubai, Estonia, EU, Europe, Finland, France, Germany, Hong Kong, India, Indonesia, International, Italy, Japan, JURISDICTIONS, Korea, Latin America, Liechtenstein, Macau, Malaysia, Myanmar, Pakistan, Philippines, Russia, Singapore, Spain, Thailand, UAE, UK, Ukraine, US

European Bank Stress Tests and Asset Quality Reviews

The European Central Bank (ECB) and the European Banking Authority (EBA) have published the results of the latest stress tests and asset quality reviews (AQR).  As foreshadowed from the outset, a number of institutions did not pass the ‘unique and … Continue reading

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Filed under Banking, EU, Europe, France, Germany, Italy, PRA, Spain, UK