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

New to RegZone are customised research tools, designed by CMS lawyers, allowing you to search RegZone databases for quick queries and detailed analysis on regulatory reform, regulators and other agencies, timelines, jargon and more.

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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

  • 20/11/2019

    FSB: Pre-cessation triggers

    FSB: Pre-cessation triggers
    News Date:
    20/11/2019
    News Text:
    FSB has published a letter from its Official Sector Steering Group (OSSG) which encourages ISDA to add a “pre-cessation” trigger alongside the cessation trigger as standard language in the definitions for new derivatives and in a single protocol, without embedded optionality, for outstanding derivative contracts referencing key ...
    Support Information:
  • 20/11/2019

    CMA: Financial services sector: suspected anti-competitive arrangements

    CMA: Financial services sector: suspected anti-competitive arrangements
    News Date:
    20/11/2019
    News Text:
    CMA has updated the case timetable for the investigation.
    Support Information:
  • 20/11/2019

    FMLC: Article 59 BRRD

    FMLC: Article 59 BRRD
    News Date:
    20/11/2019
    News Text:
    FMLC has published the text of letters it has sent to HMT and the EC which highlight some issues of legal uncertainty with regard to Article 59 of the recently amended BRRD.
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  • 20/11/2019

    PRA: Statement on the delegated regulation changes published by EC

    PRA: Statement on the delegated regulation changes published by EC
    News Date:
    20/11/2019
    News Text:
    In this statement PRA reminds firms that on 1 January 2020 the deferred part of the delegated regulation changes published by the EC on 18 June 2019 will come into effect which may impact the calculation of the Solvency Capital Requirement.
    Support Information: