Securities & derivatives

Reports, news and data relating to the securities & derivatives sector.

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Status:

A referendum on Britain's membership of the European Union was held on 23 June 2016. On 24 June 2016, it was announced that the UK voted to leave the EU. The earlier "UK-EU settlement" agreed in February 2016 is no longer valid following a vote to leave. The Government has indicated that notice will be given to the European Commission not later than March 2017 to 'trigger' Article 50 and begin the process.

Latest Reports

  • Glass sky

    Top report

    PRIIPs Key Information Document

    22.12.2015

    Will Dibble (CMS Partner, UK) and Michael Cavers (CMS Partner, UK) held a seminar on PRIIPs Key Information Document requirements.

    Please click on the link in the title to download the PDF version of the seminar slides.

  • City, London

    The proposals in the UK Prime Minister’s speech on 17th January and the White Paper on 2nd February will require a new construct for cross-border regulatory coordination between the EU and the UK, which will operate in a complex legal and regulatory environment (outside the EU/EEA single market). CMS and ...

  • Frankfurt, Germany

    The German Financial Supervisory Authority (BaFin) recently published revised guidelines for breaches of the German Securities Trading Act (WpHG) (WpHG Administrative Fine Guidelines II (WpHG-Bußgeldleitlinien II)). They had been last updated in 2013. According to the new WpHG Administrative Fine Guidelines, BaFin now can and will punish companies more severely ...

  • EU flag

    CMS held a pan-European seminar on 17 March on "Cross-border banking and investment structures post-MiFID II and Brexit".

    The seminar covered: 
    Overview (Ash Saluja, CMS UK)
    Local EU jurisdictions:
    Jérôme Sutour (CMS France)
    Andreas Feneis (CMS Germany)
    Darragh Murphy (McCann Fitzgerald, Ireland)
    Paolo Bonolis (CMS Italy)
    Perspective from a third country (Kaspar Landolt, CMS Switzerland)
    Looking ahead (Paul Edmondson, CMS UK)

    The seminar slides are available to view/download via the link in the title.

  • As a reaction to the so-called "Panama Papers" the German legislator proposed, on 30 December 2016, a draft bill to combat tax avoidance (so-called Steuerumgehungsbekämpfungsgesetz – StUmgBG). The aim of the draft bill is to enhance the German tax authorities' means to determine and reveal EU-foreign domicile company structures which ...

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Agency Database

Future Dates

* Estimated date

  • 24 April 2017

    Deadline for responses to FCA consultation CP17/2 on client assets and the special administration regime (please note 23 February is the deadline for responses to the sections on EMIR/MiFID standards proposals).

  • 28 April 2017

    Deadline for responses to EIOPA's consultation paper on guidelines on complex insurance-based
    investment products.

  • 5 May 2017

    Deadline for responses to FSB's consultation on unique transaction identifiers.