On March 23, the United Kingdom’s House of Commons Treasury Committee published the Bank of England’s (BoE) ‘written evidence’/responses to a UK Government inquiry into the post-Brexit future of financial services in the United Kingdom (the Response).
Corporate & Financial Weekly Digest
The Corporate & Financial Weekly Digest, published by Katten Muchin Rosenman, covers legal developments and regulatory updates relevant to corporate and financial sectors. It addresses topics such as securities regulation, broker-dealer compliance, derivatives markets, digital assets, corporate transparency laws, and financial industry oversight by agencies like the SEC, FINRA, and CFTC. The digest also discusses legislative changes impacting corporate governance and financial reporting, as well as case studies and firm news related to mergers, acquisitions, and capital markets transactions. It serves as a resource for legal professionals and industry participants seeking information on evolving financial regulatory frameworks and corporate law issues.
Latest from Corporate & Financial Weekly Digest - Page 8
UK FCA Launches New Whistleblowing Initiative
By Neil Robson
On March 24, the United Kingdom’s Financial Conduct Authority (FCA) announced the launch of a campaign to encourage individuals to report wrongdoing — i.e., whistleblowing.…
COVID-19: FCA extends Flexibility on RTS 27 Reports and 10 Percent Depreciation Notifications
On March 19, the Financial Conduct Authority (FCA) published a statement announcing that it is establishing temporary measures on RTS 27 reports on execution quality. Commission Delegated Regulation (EU) 2017/575 contains regulatory technical standards (RTS) specifying the content, format and…
FCA Confirms No Current Revisions to Temporary Transitional Power Applying to UK’s Derivatives Trading Obligation
On March 24, the Financial Conduct Authority (FCA) published a statement announcing that it has not observed market or regulatory developments that warrant a change in its use of the Temporary Transitional Power (TTP) applying to the United Kingdom’s derivatives…
ESMA Publishes Statement Announcing Supervisory Approach to MiFID II Position Limits for Commodity Derivatives
On March 19, the European Securities and Markets Authority (ESMA) published a statement announcing a new Directive relating to its supervisory approach to position limits for commodity derivatives under the Markets in Financial Instruments Directive (MiFID II) (the Statement).…
Acting SEC Chair Lee Provides Public Statement Welcoming Public Comment on Climate Change Disclosures
On March 15, Acting Securities and Exchange Commission Chair Allison Herren Lee made a public statement (Statement) requesting public input from investors, registrants and other market participants regarding climate change disclosures. In light of increased demand for company disclosure regarding…
FINRA Publishes Updates to Private Placement Filer Form Pursuant to FINRA Rules 5122 and 5123
On March 11, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 21-10 (Notice), which notifies members that FINRA has updated the form (Filer Form) that must be used to file offering documents and information pursuant to FINRA Rules 5122…
CFTC Acting Chairman Announces New Climate Risk Unit
On March 17, Acting Chairman Rostin Benham of the Commodity Futures Trading Commission announced that he has created a new Climate Risk Unit (CRU) to focus on the role of derivatives in mitigating climate-related risks and helping the economy transition…
NFA Publishes Series of Member Notices Related to Common Deficiencies and Other Regulatory Matters
On March 11, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to announce that the Financial Action Task Force (FATF) has updated its list of jurisdictions with strategic anti-money laundering and combatting the financing of terrorism (AML/CFT) deficiencies.…
European Parliament Adopts Report Recommending Directive on ESG Due Diligence Obligations
On March 10, the European Parliament adopted a legislative initiative report detailing recommendations for a new directive on corporate due diligence and corporate accountability for holding companies accountable for harm caused to human rights, the environment and good governance (the…