ANALYSIS: The New EU Regime For Short Selling And Sovereign Credit Default Swaps

The European Union’s controversial regulation on short selling and certain aspects of credit default swaps (Regulation) now law, following adoption by the European Parliament and the EU Council and publication in the Official Journal. The Regulation creates a harmonised, pan-EU regulatory framework for short selling and naked sovereign credit default swaps (CDS), with new powers for the European Securities and Markets Authority (ESMA) to co-ordinate actions by Member States and, where necessary, to take measures on its own.

Canada’s Supreme Court Finds Against Proposed National Securities Law, Regulator

The Supreme Court of Canada December 22, 2011, rendered a unanimous decision that the proposed Securities Act (the Proposed Act) is not constitutional. In doing so, the Court defeated the federal government’s initiative to establish a single national securities regulator….

ANALYSIS: The European Commission’s Legislative Proposals For Revising The Markets In Financial Instruments Directive

The European Commission on October 20, 2011, published two major legislative proposals to update and revise the 2004 Markets in Financial Instruments Directive and the 2003 Market Abuse Directive…

Canada’s Ontario Securities Commission Proposes Enhanced Co-Operation Initiative

On October 21, 2011, the Ontario Securities Commission (OSC) published Staff Notice 15-704 Request for Comments on Proposed Enforcement Initiatives highlighting proposals for resolving enforcement matters more efficiently…

ANALYSIS: Key E.U. Member State Regulators’ Implementation Of New Short-Selling Bans Shows Divisions And European Securities And Markets Authority’s Inability To Coordinate E.U. Action

In response to the spreading sovereign debt crisis in the European Union and its effect on financial institutions, several key E.U. member state regulators recently decided to impose or extend existing short-selling bans in their respective countries…

ANALYSIS: New Zealand Introduces Tougher Financial Markets Regime From May 1, 2011

The regulatory waters lap higher and colder since May 1, 2011, when the new Financial Markets Authority (FMA) was established and related legislative reforms affecting the operation of capital markets commenced…

ANALYSIS: Russia To Liberalize Rules On Placement Of Company Shares Abroad

On March 11, 2011, the head of the Federal Service for Financial Markets (hereinafter “FSFM”), Vladimir Milovidov, announced to the Russian daily Kommersant that the FSFM plans to liberalize Russian companies’ ability to place shares outside Russia…

Proposed Canadian National Securities Law Unconstitutional, Alberta Court Rules

In the battle over the future of securities regulation in Canada, the first round has been decided in favour of the provincial opponents of a national regulator…

ANALYSIS: Vietnam’s Securities Law Significantly Amended

In late 2010, Vietnam’s National Assembly passed a law amending the Law on Securities of 2006 (the Amended Law). The Amended Law revisits a number of issues on securities, securities business and the securities market, and will become effective on July 1, 2011…

ANALYSIS: Vietnam’s Recent Securities Regulation Changes Include Possibility of Listings by Foreign Companies

On August 2, 2010, the Vietnam Government issued Decree No. 84/2010/CP (Decree 84) amending and supplementing a number of articles of Decree No. 14/2007/ND-CP (Decree 14) (see WSLR, November 2010, page 24). Decree 14 was issued on January 17, 2007, to give detailed provisions on the implementation of the Law on Securities (see analysis at WSLR, September 2007, page 18).

Decree 84 amends and/or supplements provisions on public companies, credit institutions, fund management companies and…

Next Page »