On 21 December 2021, the Irish Takeover Panel released a public consultation paper seeking comments on proposed amendments to the Irish Takeover Panel Act 1997, Takeover Rules 2013 and the Substantial Acquisition Rules 2007.
Submissions closed on 28 February 2022.
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On 23rd June 2022, the Securities and Exchange Commission (SEC) adopted amendments to modernize Form 13F and enhance the information provided. The amendments are intended to promote efficiency, transparency, and operational resiliency by modernizing how information is filed or submitted to the Commission and disclosed to the public.
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Several areas of risk associated with crypto assets exist, including high volatility, liquidity risk, and heightened potential for fraud. Volatility: Prices of crypto assets rise and fall dramatically, often driven by media or social media hype, and few constraints on price manipulation exist. Liquidity: When trading on a crypto asset trading platform, the CTP may…
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Welcome to the Funds-Axis Regulatory Round Up! The past month has brought a number of important developments on topics including ESG, UCITS, AIFMD II and Money Market Funds. The month also saw: The Central Bank of Ireland approve the process for UCITS side-pocketing arrangements, The ESAs publish recommended changes to make the PRIIPS Key Information…
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Which US markets are now considered equivalent to EU regulated markets? The European Commission has adopted a decision declaring that a number of United States exchanges supervised by the US Securities Exchange Commission (SEC) are equivalent to EU regulated markets. As a result, derivatives traded on these US exchanges will now be treated as exchange-traded…
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New CSSF Online Portal for Luxembourg Major Shareholding Notifications Last month the CSSF announced the launch of the eRIIS, its new online portal for those subject to major shareholder notifications under Articles 11(2) and 18(2) of the Transparency Law. The eRIIS is already live and can be used for filings and replaces the current CSSF…
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The past month brought several important developments, including: the FCA confirming the PRIIPs regulation, the FCA’s reminder to firms regarding exposure to cryptoassets, a new major shareholding reporting process in Luxembourg; and FinDatEx publishing EET V1 and updated EMT V4.
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In July 2021, the FCA consulted (in CP21/23) on proposals to address the most serious and persistent concerns regarding the onshored PRIIPs regulation.
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The FCA have published a letter outlining the key risks that custody and fund services firms need to manage in order to protect investors and the integrity of the markets in which they operate. In the letter, the FCA outline the necessary action they expect firms to take to ensure that risks are appropriately mitigated.
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Welcome to the Funds-Axis Regulatory Round Up! The past month brought a number of important developments on topics impacting ESG, the Money Market Funds Regulation, liquidity, UCITS eligible market due diligence, short selling and major shareholdings disclosures. This month’s regulatory round-up includes updates from: ESMA on proposed reforms to Money Market Funds; The SEC with…
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