Worldwide: Commodities/Derivatives/Stock Exchanges

Market participants employ four main credit risk transfer structures—bank-issued CLNs, SPV-issued CLNs, credit default swaps, and participation interests—each carrying distinct risk, regulatory, and funding profiles that require careful evaluation. Asset managers must navigate critical considerations including due diligence protocols, credit event definitions, and recovery rights to optimize returns. Recent Basel 3 re-proposals in the U.S. and regulatory developments in the E.U. and U.K. are res

Executive Summary: This summary focuses on provisions of the Bill most relevant to investment managers, fund managers and investment advisers.

The European Securities and Markets Authority has issued a public statement clarifying that event contracts meeting certain criteria qualify as binary options subject to the EU's retail investor ban, creating significant regulatory barriers for prediction markets in Europe. This position contrasts sharply with the United States' more permissive federal framework, where the CFTC has proposed rules emphasizing informational value and hedging utility rather than categorical prohibitions.

One of the aims of Regulation (EU) 2023/1114 (“MiCA”) is to bring stability to digital asset markets by ensuring that market abuse is prevented before it can even occur.

The Central Bank of Ireland Governor addresses Europe's fragmented single market and its impact on capital formation, while new compliance assessments reveal governance weaknesses across MiFID firms. Meanwhile, AMLA advances its supervisory framework and the European Commission launches a comprehensive review of crypto-asset regulations.

The European Securities and Markets Authority has published draft regulatory technical standards recalibrating the clearing thresholds under EMIR 3, fundamentally shifting the framework from a distinction between OTC...

Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and U.S. financial services regulation.

On 4 February 2026, the Commission de Surveillance du Secteur Financier ("CSSF") published an updated version of its FAQ on crypto-assets – undertakings for collective investment ("FAQ").

In our last post, we explored whether “forever” really means forever in contract law. This time, we’re dealing with another classic contract conundrum: what does “reasonable notice” mean?