The guide enables side-by-side comparison of critical equity derivatives issues across key jurisdictions. By Rafal Gawlowski The past several years emphasized the growing importance of strategic equity solutions as part of corporate finance advisory services for both listed issuers and their controlling shareholders. Strategic equity solutions include a range of equity derivatives products, such as … Continue Reading
The agency will use the information to take further steps to address climate risks in the commodity derivatives markets. By Jean-Philippe Brisson, Yvette Valdez, Douglas Yatter, Joshua Bledsoe, Michael Dreibelbis, Qingyi Pan, and Deric Behar On June 2, 2022, the Commodity Futures Trading Commission (CFTC) issued a Request for Information (RFI) to inform its understanding … Continue Reading
The consultation response heralds innovation-friendly reform to the UK wholesale capital markets regime. By Rob Moulton and Dianne Bell On 1 March 2022, HM Treasury published its response to the July 2021 consultation on the Wholesale Markets Review after considering the feedback received. The consultation response sets out changes that are expected to “liberate businesses … Continue Reading
Proposals signal that the UK government is willing to diverge significantly from EU rules. By Rob Moulton and Charlotte Collins On 1 July 2021, HM Treasury published a consultation on its Wholesale Markets Review. The Review was established to determine how the UK’s approach to regulating secondary markets needs to adapt post-Brexit, and to ensure … Continue Reading
A comprehensive guide to the new rule, which largely supersedes prior CFTC guidance that had informed market practice for over seven years. By Yvette D. Valdez, Adam Bruce Fovent, and J. Ashley Weeks On November 13, 2020, the US Commodity Futures Trading Commission’s (CFTC’s) final rule on the cross-border application of aspects of the swaps … Continue Reading
The CFTC continues to demonstrate a commitment to using its regulatory mandate to combat climate change risks to the US financial system. By Yvette D. Valdez, Douglas K. Yatter, Jean-Philippe Brisson, Paul Davies, Nicola Higgs, and Deric Behar On March 17, 2021, the Commodity Futures Trading Commission (CFTC) announced the establishment of an interdivisional Climate … Continue Reading
The CFTC and the DOJ both now pursue enforcement actions against trading in commodities based on misappropriation of confidential information. By Douglas K. Yatter, Sohom Datta, and Cameron J. Sinsheimer Among the many changes resulting from the Dodd-Frank Act, one that has been slow to develop, but broad in its significance, is the assertion of … Continue Reading
FCA’s Stephen Hanks discusses onshoring and how to ensure regulatory compliance before the year’s end. With the end of the Brexit transition period looming, many financial services firms are asking what they need to do between now and the end of the year to ensure regulatory compliance. In this episode of Connected With Latham, Anne … Continue Reading
Regulators and industry groups strongly encourage market participants to adopt ISDA’s much-anticipated IBOR Fallbacks Protocol and Definitions Supplement. By Yvette D. Valdez, Becky Critchley, Deric Behar, and Anna Lewis-Martinez The International Swaps and Derivatives Association (ISDA) has published a statement from its Board of Directors confirming that on October 23, 2020 it will launch its … Continue Reading
A watershed CFTC report highlights the dangers of climate change to the US economy, and provides a broad risk-mitigation roadmap. By Jean-Philippe Brisson, Paul A. Davies, Nicola Higgs, Yvette D. Valdez, R. Andrew Westgate, Kristina S. Wyatt, and Deric Behar On September 9, 2020, the US Commodity Futures Trading Commission’s (CFTC’s) Climate-Related Market Risk Subcommittee … Continue Reading
The relief removes regulatory obstacles and provides additional flexibility for market participants. By Yvette D. Valdez, Adam Bruce Fovent, and J. Ashley Weeks On August 31, 2020, three divisions of the US Commodity Futures Trading Commission (CFTC) issued revised no-action letters providing additional relief to swap dealers, end users, and other market participants from registration … Continue Reading
Regulators seek to expand market connectivity for wealth management products and enhance financial institutions’ environmental risk management. By Farhana Sharmeen, Simon Hawkins, Kenneth Hui, and Marc Tan This blog post summarises key regulatory developments in Hong Kong and Singapore during June 2020, including: The announcement of a new “Wealth Management Connect” mutual market access project … Continue Reading
By Simon Hawkins and Kenneth Hui The SFC’s consultation conclusions carve out non-financial groups and multilateral portfolio compression services. On 12 June 2020, the Securities and Futures Commission (SFC) published its conclusions (Consultation Conclusions) on its December 2017 consultation paper that proposed modifications to the scope of regulated activities (i.e., activities for which a licence … Continue Reading
The self-regulatory organization responds to the US derivatives market’s shift to remote working arrangements. By Yvette D. Valdez, Carlos Alvarez, Brett M. Ackerman, J. Ashley Weeks, and Deric Behar As the novel coronavirus outbreak (COVID-19) continues to spread across the globe, causing various disruptions, derivatives regulators are addressing the resulting legal and regulatory uncertainty. This … Continue Reading
10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 By David Berman, Carl Fernandes Nicola Higgs, Rob Moulton, Charlotte Collins, and Christopher Sullivan. In the fifth post of this 10-blog series, we identify key milestones in the derivatives market for the year ahead. This is taken from our wider publication: 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in … Continue Reading
FCA warns providers of cryptocurrency derivatives of their regulatory obligations. By Andrew Moyle, Stuart Davis and Charlotte Collins The UK Financial Conduct Authority (FCA) has issued a statement reminding businesses offering cryptocurrency derivatives of the requirement to be authorised. The FCA explains that, although cryptocurrencies are not themselves regulated in the UK, derivatives that reference … Continue Reading
