Managing risk: a disputes perspective (2017)

Herbert Smith Freehills recently held its annual disputes client conference exploring some key legal and compliance risks facing major corporates. Following opening remarks by Mark Shillito, head of dispute resolution for the UK and US, there were presentations on cyber… Read more

#MAR_bitesize

New Market Abuse powers for the FCA (2) Powers to require information from issuers, PDMRs and persons closely associated to PDMRs The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (the "regulations") were passed to ensure that UK law… Read more

#MAR_bitesize

Investment recommendations Increased scope The former Market Abuse Directive (MAD) imposed requirements designed to ensure the objective presentation of investment recommendations and the disclosure of interests and conflicts of interest on the part of producers or disseminators of such recommendations. … Read more

#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… Read more

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… Read more

China plans to reshuffle foreign investment regulation

After a long wait, on 19 January 2015, China's Ministry of Commerce (MOFCOM) released the draft Foreign Investment Law for public comment.  The draft Foreign Investment Law represents a significant step forward in China's continuing reform and opening-up.  When it… Read more

Financial System Inquiry – Final Report

The Financial System Inquiry (FSI), chaired by David Murray AO, yesterday released its Final Report, which has proposed some significant changes for the financial system in Australia, including in relation to capital adequacy, the regulatory system, consumer outcomes, general advice,… Read more

Hong Kong: SFC supervisory briefing session – summary of key issues

On 2 September 2014, the SFC held its first ever Supervisory Briefing Session (“Session”) to share with market participants their major findings and observations emanating from recent inspections of the equities and FICC (Fixed Income, Commodity, Currencies) businesses.  The main speakers… Read more

UK: Banking Standards Review

Sir Richard Lambert has today published a report with his recommendations on plans for a professional body, to be known as the Banking Standards Review Council (BSRC), to contribute to a continuous improvement in the behaviour and competence of all banks… Read more

ASIC releases another report on retail structured products

ASIC has released Report 377 "Review of advice on retail structured products", which reports in relation to a sample of personal advice given to retail clients in relation to structured products.  This report was foreshadowed in and follows ASIC’s May 2013… Read more