News analysis on the regulatory effects on disclosures, terms, covenants, redemption and subordination. Whether it’s how product manufacturers are keeping their Priips KIDs under three pages or how bail-in clauses are changing as a result of new capital rules, it’s all here.
Buy and sellside firms and industry associations tell Practice Insight what they are lobbying the European Commission on, from scope to performance scenarios. They may now have the support of Esma too
London fund managers find the French and Irish law documents useful in facilitating relocation, and would like to see more practical Brexit guidance from industry associations
Securitisation desks think the new framework could do more harm than good to the troubled market, with some concerned it will put buyside off from investing in the product
Heads of asset managers, in-house counsel and bankers reveal the so-called 'chaperone' loophole for UK-based financial services institutions post-Brexit that allows for minimal staff moves. But EU regulators reiterate their position that letterbox arrangements are unacceptable
Product manufacturers wanting to continue selling in the EU are looking into a creative – but risky – new strategy to bypass the investor protection rules. While it might work for some, lawyers warn against it, arguing that the relief of not having to produce a KID is not worth the potential risk
According to in-house lawyers and structurers, the cumulative impact of post-crisis regulation has reduced the availability of certain types of structured products in the marketplace. While Emir makes anything complex significantly more expensive, Priips and Mifid II reduce the pool of potential investors, further pushing banks towards vanilla instruments
The proposed directive may ultimately bring back pricing differentiation, but it could also cause significant disruption in the market. Here bankers and investor groups outline the points they are lobbying European regulators on, from asset eligibility to liquidity buffers
More than half of the eight DCM bankers who spoke to Practice Insight did not know that the European Covered Bonds Directive, due in 2019, even exists. Others are concerned about its effects on third-country counterparties as a source at the European Commission confirms here that any form of equivalence regime will take years
This landmark Libor reform survey finds a market split on everything from managing the transition and minimising disputes to impact on documentation and pricing. In-house lawyers, heads of rates, traders and corporate treasurers tell us how the upheaval will affect them
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