Securities & derivatives

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

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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 The earlier "UK-EU settlement" agreed in February 2016 is no longer valid following a vote to leave.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 gave notice to the European Commission in March 2017 to 'trigger' Article 50 and begin the process.

Latest Reports

  • 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 ...

  • Glass sky

    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.

  • The FCA has published the findings from the regulatory sandbox’s first year in operation. Background The FCA’s regulatory sandbox (sandbox) allows firms to test new products, services and business models in a live market environment whilst maintaining appropriate consumer safeguards. The sandbox was established to support the FCA’s objectives of ...

  • Fibre optic cables

    The OECD opened a consultation on taxing the digital economy (here). The deadline for comments from the public was 13 October 2017 and all comments received will be made publicly available. A public consultation meeting will be held on 1 November 2017 at the University of California, Berkeley. Action 1 ...

  • City, London

    CMS UK held a seminar on 6 October on "MiFID II for buy-side firms: getting to the starting line", led by Ash Saluja, Karagh Gilliatt, and Aidan Campbell.

    The seminar gave an overview of MiFID II, EU and UK implementation, and potential impact areas.

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

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Agency Database

Future Dates

* Estimated date

  • In the course of 2017

    Next phase of the post-implementation RDR review will be published by the FCA in this year; to be followed by a subsequent third phase of the review which will consider the longer-term implications.

  • *Q4 2017

    Quarter in which ESMA expected to publish the results of the EU-wide CCP stress test.

  • *Q4 2017

    European Commission expected to do the following - in relation to the Capital Markets Union - by end of Q4 2017:  publish a communication on post-trade;  adopt a legislative proposal specifying conflict of laws rules for third party effects of transaction in securities and claims; publish recommendation on private placements; publish communication on EU corporate bond markets; present measures to develop a secondary market for non-performing loans; and adopt a legislative proposal on prudential treatment of investment firms.