Welcome to RegZone

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

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    On 18 November 2019, the Investment Association released its Responsible Investment Framework Final Report the “Report”). The Report follows the IA’s consultation at the beginning of this year, which sought industry views on: a proposed framework to categorise and define common Responsible Investment approaches (the “Framework”); a UK retail product label for funds which use Responsible...

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    Brexit: Doing Insurance business in France post exit day On 31 October 2019 EIOPA published Member State responses to its February 2019 ‘Recommendations for the insurance sector in light of the United Kingdom withdrawing from the European Union’. ACPR, the French regulator has indicated that it does not intend to comply with these recommendations. For full details see our RegZone report here.

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    On 31 October 2019 EIOPA published Member State responses to its February 2019 ‘Recommendations for the insurance sector in light of the United Kingdom withdrawing from the European Union’. 

  • 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.

  • EU flag

    We are pleased to issue our updated Guide to Passporting: 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. 

See more reports

RegZone Toolkit

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Future Dates

* Estimated date

  • 24 November 2019

    Form K, the conversion form under SM&CR,  must be submitted by 23.59pm on 24 November 2019.

  • 1 December 2019

    End of four-year transitional period for RTS on risk-mitigation techniques for OTC derivatives contracts not cleared by a CCP under EMIR.

  • 9 December 2019

    The changes set out in the appendices of PRA PS20/19, implementing changes to the prescribed responsibility for recovery and resolution under SM&CR,  will come into force. 

News Wizard

  • 22/11/2019

    ESMA: Speech by Steven Maijoor

    ESMA: Speech by Steven Maijoor
    News Date:
    22/11/2019
    News Text:
    Text of Steven Maijoor’s speech of 22 November 2019 follows. Topics include: liquidity and asset management; stress testing and supervisory action and liquidity requirements under UCITS.
    Support Information:
  • 22/11/2019

    EC: SRB Decisions

    EC: SRB Decisions
    News Date:
    22/11/2019
    News Text:
    The following SRB Decisions of 18 September 2019 have been published in the Official Journal.
    Support Information:
  • 22/11/2019

    FSB: 2019 list of global systemically important banks

    FSB: 2019 list of global systemically important banks
    News Date:
    22/11/2019
    News Text:
    FSB has published its annually updated list of G-SIBs.
    Support Information:
  • 22/11/2019

    EBA: Reporting of MREL and TLAC

    EBA: Reporting of MREL and TLAC
    News Date:
    22/11/2019
    News Text:
    ESMA has published a consultation on the draft implementing technical standard on disclosure and reporting of the minimum requirement for own funds and eligible liabilities and the total loss absorbency requirement . Responses are required by 22 February 2020.
    Support Information:
  • 22/11/2019

    FCA: Handbook Notice 71/Instruments

    FCA: Handbook Notice 71/Instruments
    News Date:
    22/11/2019
    News Text:
    FCA has published details of instruments passed at its Board meetings on 24 October 2019 (in addition to those already noted in Handbook Notice 70) and on 21 November 2019 . These are:. Mortgages (Responsible Lending) Instrument 2019/92; Exiting the European Union: Dispute Resolution: Complaints (Amendments) Instrument 2019/29 ...
    Support Information: