The European Commission finally published its legislative proposals to revise the Markets in Financial Instruments Directive (MiFID) on 20 October, nearly 4 years after the MiFID implementation date of 1 November 2007. The proposed changes to MiFID will result in a significant overhaul of the way in which financial markets operate in Europe. The proposed … Read more

The European Commission has published its proposals for a Regulation on insider dealing and market manipulation (“the Regulation”) and a Directive on criminal sanctions for intentional market abuse (“the Directive”). The new measures will extend the scope of the existing regime to ensure that regulation keeps pace with market developments, to reinforce the investigative and … Read more

This is a guide to key legal developments in the coming months and years ahead. Click here for the full Timeline. This publication contains information on a broad range of legal areas, a sample of which is listed below. For the full list click on the link above. The developments include the new Local Democracy, … Read more

Following the recent developments in Libya, the UN, EU and UK have adopted further measures relating to the asset freeze imposed in March 2011 (details of which are contained in our previous e-bulletin). On 16 September 2011, the UN Security Council adopted Resolution 2009 (2011) (the “UN Resolution”) which, among other things, partially lifted the … Read more

In our June 2011 Corporate Fraud, Investigations and Asset Recovery Update, we discussed the upcoming Europe-wide freezing order regulation. On 25 July 2011, the European Commission released the proposed European Account Preservation Order (EAPO) Regulation, which has been submitted for consideration by the European Parliament and the Council of the EU. Whilst it is likely … Read more

The Joint Committee appointed by both Houses of Parliament to conduct pre-legislative scrutiny of the draft Financial Services Bill has issued a call for written evidence to be submitted by Friday 2 September 2011.  This is an important opportunity for the industry to share its concerns with Parliament, and to help shape the final form … Read more

It is imperative for HR professionals, in-house counsel, compliance officers and others with responsibility for remuneration-related issues within firms who will be covered by the Alternative Investment Fund Managers Directive (“AIFMD“) to be aware of the impact of the AIFMD on the structure and form of remuneration. The AIFMD was published in the Official Journal … Read more

The Treasury Select Committee (“the Committee”) published a report on its inquiry into the Retail Distribution Review (“RDR”) on Saturday, and recommends that in order to allow advisers to satisfy the requirements of the RDR, the FSA should defer its implementation for 12 months. The Committee agrees that reform of the financial advice market is … Read more