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On August 16, 2024, the Ministry of Finance issued the Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2019 (Notification). This Notification was introduced to modify the Foreign Exchange Management [...]

On 10 October 2024, the Central Bank of Ireland (Central Bank) published a Dear CEO Letter to Markets in Financial Instruments Directive (MiFID) investment firms, credit institutions and fund management [...]

The Council of the EU adopted the Listing Act package yesterday - it will be published in the Official Journal in Q4 2024. One part of the package (the Listing [...]

1. Background On 19 June 2024, the final texts of two key pieces of legislation for the European banking sector were published in the Official Journal of the European Union [...]

Background Earlier this year, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, in her budget speech announced the intent to simplify the regulatory framework governing Foreign Direct [...]

RegCORE - Client Alert | Capital Markets Union QuickTake Just short of its 10th anniversary in the Official Journal of the EU, on 20 February 2024, the European Council (the [...]

1. MIFID II 1.1 Central Bank publishes Guidance on the authorisation of MiFID firms On 1 May 2024, the Central Bank of Ireland (Central Bank) published guidance documentation in relation [...]

The European Commission ('Commission') has mandated the European Securities and Markets Authority ('ESMA') to provide technical advice on the review of the UCITS Eligible Assets Directive ('EAD'). ESMA has been [...]

Our corporate team outline the latest developments within the corporate and finance market in Guernsey including NAV facilities for Guernsey funds and how the jurisdiction will benefit from the new [...]

1. Trends 1.1 VC Market In September 2023, Josys Inc, a Japanese software as a serviceand device management platform, closed a series B funding round of USD93 million. This news [...]

On December 15, 2023, the Working Group on the Tender Offer System and Large Shareholding Reporting System, etc. issued the 'Report of the Working Group on the Tender Offer System [...]

On 27 May 2024, the European Securities and Markets Authority ('ESMA') published a report on the application of the Markets in Financial Instruments Directive II ('MiFID II')1 disclosure requirements to [...]

Vietnam's financial landscape is set to further transform on July 1, 2024, when the government's long-awaited Decree No. 52/2024/ND-CP dated May 15, 2024 ('Decree 52'), will officially replace Decree No. [...]

1. Credit Union Updates: Central Bank welcomes Peer Review by the ICURN/ Credit Union News Central Bank welcomes outcome of Peer Review by the International Credit Union Regulators' Network On [...]

On 1 May 2024, the Central Bank of Ireland ('Central Bank') issued three guidance documents for firms seeking authorisation as MiFID investment firms under the European Union (Markets in Financial [...]

William Gibson's seminal cyberpunk science-fiction novel 'Neuromancer' (1984) is often cited for its comment on the accessibility of technological innovations for the masses, artfully captured by the phrase 'the future [...]

1. Central Bank publishes its PCF Annual Confirmation Guidance The Central Bank of Ireland ('Central Bank') has published its PCF Annual Confirmation Guidance ('Guidance'). The Guidance is directed at regulated [...]

The Central Bank and the European Supervisory Authorities have recently issued guidance on both the filing processes and content of PRIIP KIDs. Background The PRIIPs Regulation (EU) 1286/2014 ('PRIIPS Regulation') [...]

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in June 2023: 30 June MiFIR / [...]

As part of its EU Retail Investment Strategy, the EU Commission is proposing targeted amendments to the PRIIPs KID aimed at improving the information disclosed within it. On 24 May [...]

On April 3, 2023, the Consumer Financial Protection Bureau released a policy statement articulating a new framework for analyzing conduct that it considers 'abusive' in violation of federal law. The [...]

Over the recent months, the Luxembourg legislator has once again demonstrated its ability to adapt to an uncertain economic environment and to the use of new technologies, allowing Luxembourg to [...]

With the present amount of investment in Bitcoin and its significant presence on virtual currency exchanges, is it illegal to purchase, trade, or use it? Currently, in the current legal [...]

Capital is the lifeblood of every corporate organization. Every company needs capital to run its operations and achieve its corporate goals efficiently. There are typically three types of capital a [...]

On 23 March 2023, Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology (the 'DLT Pilot Regime' or 'Regulation') will become applicable. The DLT [...]

We researched and summarised for you, all recent regulatory updates from Cyprus and Europe, which are applicable for Regulated Companies operating in the Region. Cyprus Securities and Exchange Commission ('CySEC') [...]

MIFID II (Second Markets in Financial Instruments Directive) is a European Union directive that regulates the market for financial instruments in the EU. It was introduced in 2018, replacing its [...]

In this briefing, we summarise the latest developments related to Sustainable Finance Disclosure Regulation (SFDR), its supplementing Regulatory Technical Standards (RTS) and the Taxonomy Regulation (TR). This briefing is regularly [...]

The Canadian Securities Administrators (CSA) recently published for comment proposed amendments to National Instrument 24-101 Institutional Trade Matching and Settlement (NI 24-101). The proposed amendments would allow for the shortening [...]

The European Commission adopted a legislative proposal on the regulation of crypto-assets as a part of the digital finance package in September 2020. This legislative proposal, Markets in Crypto-Assets (the [...]

The Equator Principles (EPs) are risk management framework adopted by financial institutions to identify, assess and manage environmental and social risks in project financing.1 To address the environmental and social [...]

Fintech firms and other non-bank companies have 'augmented consumer finance markets' and 'accelerat[ed] an evolution in consumer financial products and services.' Evidence also suggests that these firms have expanded consumer [...]

Fresh capital will enter the insurance linked securities (ILS) market, but while catastrophe bond deals successfully closed for year-end, others failed to complete, suggesting there's no rush to enter the [...]

On 14 November 2022 and 21 December 2022, the ESAs published an updated version of their Q&A on the on the PRIIPs Key Information Document (KID). The document now includes [...]

The EU is working on setting out the legal framework for Fintech. On a separate but connected note, the EU legislator also addresses risks carried by technological evolutions. This paper [...]

On 17 November 2022, the European Securities and Markets Authority (ESMA) announced that it was seeking input on the review of the technical standards under Article 34 of MiFID II1, [...]

Over the past few years, the Canadian financial market has watched from the sidelines as other jurisdictions retired their benchmark interbank offered rates and adopted risk-free rates in their place. [...]

Introduction Stamp duty is a tax imposed on certain instruments (including receipts), both physical and electronic, usually involving the transfer of an interest in real estate or other assets. Stamp [...]

Introduction As is known, pursuant to Articles 397 et seq. of the Turkish Commercial Code ('TCC') No. 6012, an independent audit obligation has been established for certain companies in order [...]

On October 27, 2022, the Consumer Financial Protection Bureau (the 'CFPB') issued an outline of proposals and alternatives under consideration (the 'Outline')1 for its rulemaking to implement section 1033 of [...]

The Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority (FSRA) has implemented a series of changes to its capital markets rules and regulations. These follow from the FSRA's Consultation [...]

The design and distribution obligations (DDO) are designed to ensure that product issuers adopt a consumer-centric approach when designing (and distributing) products. Before distributing a product, a product issuer must [...]

What you need to know On September 27, 2022, the Canadian Securities Administrators (CSA) published CSA Notice and Request for Comment Proposed Amendments and Proposed Changes to Implement an Access-Based [...]

Fitch Ratings reported a growth of 11.6% in total Sukuk issuances in the first quarter (Q1) of 2022 as a result of sovereigns and multilateral institutions returning to the market. [...]

On 23 September 2022, ESMA released an updated version of its Guidelines on certain aspects of the suitability requirements as provided for under Directive 2014/65 on Markets in Financial Instruments [...]

The Canadian Securities Administrators (the 'CSA') recently published for public comment proposed amendments1 to National Instrument 81-106 - Investment Fund Continuous Disclosure ('NI 81-106') and related instruments (the 'Proposed Amendments') [...]

Recent Developments The Central Bank of the Republic of Türkiye published the Guidelines on Correlating Business Models in the Field of Payments with Payment Service Types ('Guidelines'). The Guidelines provide [...]

Bermuda remains the world-leader in ILS and as the sector becomes ever-more entwined with other forms of risk transfer, the Island continues to innovate. That was just one takeaway from [...]

ON 23 SEPTEMBER 2022, THE EUROPEAN SECURITIES AND MARKETS AUTHORITY ('ESMA') PUBLISHED ITS FINAL REPORT ON GUIDELINES ON MIFID II SUITABILITY REQUIREMENTS (THE '2022 GUIDELINES'). The 2022 Guidelines build on [...]