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Securities and markets regulatory news, April 2021 # 3 | Hogan Lovells


Recent UK and EU regulatory developments of interest to financial institutions and markets.
Contents:
UK Money Markets Code updated by BoE
UK Listing Review: government response
UK EMIR: trade association letter on use of EEA UCITS as collateral
MiFID: European Commission adopts Delegated Regulation correcting MiFID Delegated Regulation (EU) 2017/565
EMIR and SFTR: ESMA reports on quality of data published
LIBOR transition: FMSB case studies for conduct risk in back book transition
Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021
The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (SI 2021/494) have been published, together with an explanatory memorandum.
The Regulations, made under section 8 of the European Union (Withdrawal) Act 2018, amend primary and secondary legislation, and parts of retained EU law, to address deficiencies arising from the withdrawal of the U ....

United Kingdom , Investment Management Association , Law Commission , European Parliament , Prudential Regulation Authority , European Commission , Derivatives Association , Financial Conduct Authority , Investment Company Institute , Financial Markets Association Asset Management Group , Institutional Money Market Funds Association , Journal Of The European Union , European Union Withdrawal , Commission Delegated Regulation , City To Parliament , Auction Platforms , Miscellaneous Provisions , Kingdom Money Markets Code , Kingdom Listing Review , Delegated Regulation , Recognised Auction Platforms , European Union , United Kingdom Emissions Trading Scheme , United Kingdom Money Markets , Rishi Sunak , Lord Hill ,

FCA to Consult on Amendments to UK Listing Rules for Special Purpose Acquisition Companies | McGuireWoods LLP


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Given the increasing popularity of special purpose acquisition companies (SPACs) and the desire to retain London’s competitiveness in the IPO space, on 31 March 2021, the Financial Conduct Authority (FCA) announced its plan to consult on SPAC-related amendments to its listing rules and associated guidance. The FCA plans to remove the requirement for suspension of trading of a SPAC upon the announcement of an acquisition, and also plans to update related guidance to strengthen protection for investors in SPACs. The restrictive nature of the suspension requirement has seen the UK lag behind the United States and certain EU jurisdictions in the recent SPAC “boom,” and its removal could enable UK SPAC investors and companies to benefit from this recent trend in the global investment space. ....

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