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The clearer view on financial services regulation

RegZone provides you with expert analysis and daily news from the fast-changing world of European financial institution regulation.  Created by CMS regulatory lawyers for those working in banking and finance, insurance, funds and asset management and securities and derivatives.  Sign up here for events, news digest and alerts (relevant to your areas of interest).

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Latest Reports

  • Metal framework

    A royal decree dated 25 December 2017 (the “Royal Decree”) further implements the packaged retail and insurance-based investment products (“PRIIPs”) regulation in Belgium by specifying the procedure for notifying a key information document (“KID”) to the Belgian authority (the “FSMA”). The following four points highlight the main requirements for (Belgian ...

  • EU flag

    We are pleased to issue our updated Guide to Passporting (UCITS): rules on marketing Undertakings for Collective Investment in Transferable Securities in Europe.

    The UCITS Directive was established to harmonise retail collective investment schemes in the EU through the introduction of a common investment vehicle known as a “UCITS”. One of the key benefits of the UCITS Directive is that UCITS can be established and regulated in one EU member state and offered in others without the need for further authorisation by virtue of passporting rights under the UCITS Directive.

    The purpose of this guide is to assist UCITS managers to understand the process and regulatory costs involved in exercising such passporting rights throughout Europe. To view or download our Guide, please click here

  • Europe from space

    We are pleased to issue our updated Guide to Passporting: Rules on Marketing Alternative Investment Funds in Europe.

    The EU Commission promoted passporting rights as one of the key benefits for hedge, private equity, real estate and other alternative investment fund managers authorised under the Alternative Investment Fund Managers Directive (“AIFMD”).

    However, we are now experiencing impediments to the passporting rights as certain domestic regulators are imposing ‘border controls’, and fund managers need to pay fees and comply with various other requirements in order to market their funds cross-border.

    The diversity of the domestic rules makes it challenging for AIFMD authorised managers to assess the costs and various other requirements for penetrating the EU market. This guide provides a road map, which will hopefully assist managers in understanding the costs and other requirements under AIFMD, other EU directives and domestic regulations.

    To view or download a copy of our Guide, please click here.

  • We are pleased to issue our updated Guide to Private Placement of Funds: Accessing European Investors post-AIFMD.

    When implementing the Alternative Investment Fund Managers Directive (“AIFMD”), some EU States have tightened or severely restricted their private placement regimes, which is important when non-EU managers and funds look to access EU investors.

    Our Guide briefly summarises the latest developments in relation to the private placement regimes of EU States, as well as covering certain non-EU States. Please click here to view or download the Guide.

  • Bank

    The Second Payment Service Directive (“PSD2”) entered into force in January 2016 and applies as of 13 January 2018[1]. The main aims of PSD2 are to increase competition, enhance consumer protections, and create a single market for payments across the EEA. The Directive brings new payments systems in-scope and has ...

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Upcoming events

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Future Dates

* Estimated date

  • 23 March 2018

    Deadline for responses to FCA's consultation CP18/4: the Money Market Funds Regulation.

  • 31 March 2018

    Date on which the European Banking Authority's revised XBRL methodology (remittance of data under the EBA implementing technical standards (ITS) on supervisory reporting) will be used in relation to reference dates.

  • 9 April 2018

    Deadline for responses to PRA's consultation CP1/18 regarding MREL.

News Wizard

  • 22/02/2018

    TSC: Digital currencies

    TSC: Digital currencies
    News Date:
    22/02/2018
    News Text:
    TSC has announced the launch of this inquiry and published a ToR. The inquiry will cover the role of digital currencies in the UK, including the opportunities and risks that digital currencies may bring to consumers, businesses, and the Government. It will examine the potential impact of distributed ledger technology on finan...
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  • 22/02/2018

    EC: BRRD II

    EC: BRRD II
    News Date:
    22/02/2018
    News Text:
    The Council has published a Presidency compromise text with regard to the proposed Directive.
    Support Information:
  • 22/02/2018

    ESMA: Statement by Verena Ross: Short Selling Regulation

    ESMA: Statement by Verena Ross: Short Selling Regulation
    News Date:
    22/02/2018
    News Text:
    ESMA has published the text of Verena Ross's statement to ECON with regard to ESMA's technical advice on the evaluation of certain elements of the Regulation.
    Support Information:
  • 22/02/2018

    EC: Article 50: Internal EU27 preparatory discussions on the framework for the future relationship with the UK: Regulatory issues

    EC: Article 50: Internal EU27 preparatory discussions on the framework for the future relationship with the UK: Regulatory issues
    News Date:
    22/02/2018
    News Text:
    This EC document consists of slides presented to the EC Article 50 Working Party on 21 February 2018, including with regard to free trade agreements.
    Support Information:
  • 22/02/2018

    EC: CRD IV

    EC: CRD IV
    News Date:
    22/02/2018
    News Text:
    The Council has published a Presidency compromise text with regard to the exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures.
    Support Information: