The changes will significantly modernise the regime and enhance consumer protections. By Nicola Higgs, Becky Critchley, Ella McGinn, and Charlotte Collins The EU has adopted a new Consumer Credit Directive, known as CCD2, which repeals and replaces the existing EU consumer credit regime under the 2008 Directive. Member States are required to transpose CCD2 by … Continue Reading
The proposal would substantially reduce the number of benchmarks in scope of the EU BMR. By Nicola Higgs, Becky Critchley, Ella McGinn, and Charlotte Collins On 17 October 2023, the European Commission published a legislative proposal that would significantly alter the benchmarks in scope of the EU Benchmarks Regulation (BMR). The proposal aims to address … Continue Reading
An evolving landscape of reforms in the ESG ratings sector continues to pose challenges to providers of ratings and scores. By Paul A. Davies, Nicola Higgs, Rob Moulton, Michael D. Green, Becky Critchley, Anne Mainwaring, and Charlotte Collins International momentum to regulate ESG ratings continues as the European Commission released a consultation on 13 June 2023 to create a new … Continue Reading
The Commission has clarified requirements for financial product classifications and the definition of “sustainable investment” under the SFDR. By Paul A. Davies, Nicola Higgs, Michael D. Green, Anne Mainwaring, and James Bee In April 2023, the European Commission (Commission) published a series of answers to questions that the European Supervisory Agencies (ESAs) had raised in September 2022 on the legal interpretation of … Continue Reading
The Commission is also consulting on proposed targeted amendments to the Taxonomy Climate Delegated Act and on the Taxonomy Disclosures Delegated Act. By Paul A. Davies, Michael D. Green, and James Bee On 5 April 2023 the European Commission opened a consultation on its proposal for four additional environmental objectives under the EU Taxonomy Regulation[1] (the Taxonomy), including: … Continue Reading
The “AIFMD II” proposals continue their progress through the EU legislative process with more detail provided, but in many areas specific criteria will not be known until Level 2 measures are developed. By Nicola Higgs, Jaime O’Connell, Denisa Odendaal, and Dianne Bell On 9 February 2023, the European Parliament’s Economic and Monetary Affairs Committee (ECON) … Continue Reading
By Rob Moulton and James Inness After lengthy consultation ESMA has published a detailed Final Report setting out its views on how to improve MAR. The ball is now firmly in the Commission’s court as to the next steps. Latham & Watkins has produced a detailed summary for clients.… Continue Reading
Many of the wide ranging amendments address the perceived barriers MiFID II introduced in capital markets and are likely to be welcomed by industry. By Nicola Higgs, Anne Mainwaring, Gabriel Lakeman and Anna Lewis-Martinez The European Commission (the Commission) has adopted a legislative proposal for a directive amending Directive 2014/65/EU on markets in financial instruments … Continue Reading
An ECON draft report on digital finance recommends legislative action in relation to cryptoassets and cyber resilience and a framework for digital onboarding. By Stuart Davis, Sam Maxson, and Anna Lewis-Martinez On 4 June 2020, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a draft report setting out its recommendations to the European … Continue Reading
The delay may complicate the regulatory landscape for sustainable finance as the EU moves toward a standardized classification system. By Paul A. Davies, Nicola Higgs, and Michael D. Green The UK government (government) has delayed a decision on whether it will adopt the EU’s taxonomy of sustainable finance activities (the Taxonomy) as the UK approaches the end of … Continue Reading
The European Commission has published its long awaited report that assesses the application and scope of AIFMD. By Carl Fernandes and Kishore Bhindi On 10 June 2020, the European Commission published a report assessing the application and scope of the Alternative Investment Fund Managers Directive (AIFMD). The report was prepared pursuant to Article 69 of … Continue Reading
The three draft delegated regulations set out sustainability criteria and ESG disclosure requirements for benchmarks provided in accordance with the EU Benchmarks Regulation. By Nicola Higgs and Becky Critchley On 8 April 2020, the European Commission published the three draft delegated regulations required by Regulation (EU) 2019/2089, commonly referred to as the Low Carbon Benchmarks … Continue Reading
10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 By David Berman, Carl Fernandes Nicola Higgs, Rob Moulton, and Charlotte Collins The fourth post in this 10-blog series considers the latest developments in relation to the Market Abuse regime. This is taken from our wider publication: 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 – Progress Report. … Continue Reading
10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019 By David Berman, Carl Fernandes Nicola Higgs, Rob Moulton, and Charlotte Collins This blog post explores developments relating to the EU Benchmarks Regulation and the transition away from LIBOR. This is the third blog of this series, which has been taken from our wider publication: 10 Key Regulatory Focus Areas for … Continue Reading
