Tag Archives: European Commission


The European Commission has announced that it has started implementing its Brexit “no deal” Contingency Action Plan given the continuing uncertainty regarding ratification of the Withdrawal Agreement in the UK. This follows the Commission’s communication of 13 November 2018 which … Continue reading

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Filed under Announcements, EU, Europe, Regulatory Reform, Sector Updates by Herbert Smith Freehills, UK Regulations

Authorising third country insurance firms: has the Commission got it wrong?

Geoff Maddock, partner Email | Profile tel: +44 20 7466 2067 mobile: +44 7785 255016 By Geoff Maddock, corporate insurance partner Commission view on authorisation In July 2015 a Commission official expressed a controversial view on when third country insurance … Continue reading

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Filed under Europe, Insurance, UK, UK Legislation, UK Regulations, Uncategorized

Junker unveils EU Commission: Lord Hill European Commissioner designate for financial stability, financial services and capital markets

The President-elect of the European Commission, Jean-Claude Junker, has unveiled his team and the new shape of the European Commission.  Lord Jonathan Hill of Oareford has been designated as the Commissioner to take on the new Financial Stability, Financial Services … Continue reading

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Filed under EU, UK

New EU Directive: Reporting by Extractive Companies on Government Payments

The European Parliament and Council of Ministers have agreed the final form of the new EU rules for the disclosure, on a project by project basis, of payments to governments by companies operating in the extractive  industries. The EU’s agreement … Continue reading

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Filed under Bribery and Corruption, Corporate Crime, Europe, European Regulation, Regulatory Reform, Sanctions and Money Laundering, UK

AIFMD: Back to basics on scope and marketing following the Commission’s Q&A and the FCA’S CP13/9

In some ways it is surprising that four years on from the first appearance of the draft of the Alternative Investment Fund Managers Directive (the “Directive”) and only weeks away from its national transposition across EU member states, we find ourselves … Continue reading

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Filed under Asset management, EU, Europe, European Regulation, Funds

European Commission extends time for ESMA’s technical advice on equivalence of EMIR and third country legal/supervisory frameworks

The European Commission has written to Steven Maijoor, the Chair of the European Securities and Markets Authority (ESMA) to extend the deadline for ESMA to provide its technical advice on the equivalence between certain third country legal and supervisory frameworks and … Continue reading

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Filed under EU, Europe, European Regulation

EU takes steps towards easing Zimbabwe sanctions

Susannah Cogman and Jeremy Sher comment on the EU’s recent easing of the Zimbabwe sanctions regime. On 19 February 2013, the European Union (“EU“) took a small step towards easing its sanctions regime in relation to Zimbabwe.  Twenty one individuals and … Continue reading

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Filed under Africa, Bribery and Corruption, Corporate Crime, EU, Europe, HM Treasury, Sanctions and Money Laundering, UK, UK Legislation, UK Regulations

EU democracy in action: European Parliament withdraws objection to EMIR technical standards

Pursuant to a compromise proposed by the European Commission on 7 February, the European Parliament has withdrawn its objection to two of the delegated acts adopted by the Commission relating to technical standards supplementing Regulation EU No 648/2012 (EMIR) on OTC … Continue reading

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Filed under EU, Europe, Uncategorized

Strengthening the European Market Abuse framework: accelerating change

Draft reports produced by the Rapporteur to the European Parliament’s Economic and Monetary Affairs Committee (ECON), published this week, recommend amendments to the European Commission’s proposals for a new Market Abuse Regulation and a Criminal Sanctions Directive, and would shorten … Continue reading

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Filed under Europe, European Regulation, JURISDICTIONS

MiFID II: a greater step away from the RDR?

Key recommendations by the Rapporteur on the investor protection elements of the proposed MiFID II Directive, contain some potentially significant concessions for firms.  However, the recommendations are at odds with the UK’s Retail Distribution Review (RDR) rules.  If the Rapporteur’s … Continue reading

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Filed under Europe, European Regulation, FSA Rules, JURISDICTIONS, Regulatory Reform, Spain, UK