MIFIR/MIFID/ESI/IIC
Conflicts of Interest in Investment Services Firms
In the context of Investment Services Firms (ISFs), the compliance function stands as a critical pillar for operational integrity and long-term sustainability.
New RTS on Best Execution of Investment Firms under MiFID II
The European Securities and Markets Authority (ESMA) has recently presented regulatory technical standards on the order execution policies of investment firms under MiFID II.
MiFID II & Listing Act: Unraveling the New Paradigm in Research Payments and Its Impact on Best Execution
The Listing Act and amendments to MiFID II aim, among other objectives, to promote research and analysis on investment target companies, especially those with smaller market capitalization.
Investment Services Companies (ISCs): Legal Framework and Operational Keys in Spain
Investment Services Companies (ISCs) play a crucial role. Regulated by the Securities Market Law and the Investment Services Law, these entities are central to providing investment services and conducting professional…
Legal and Financial Analysis of Central Counterparty Entities (CCPs)
1. Legal and Operational Structure of CCPs Central Counterparty Entities (CCPs) exhibit a complex legal and operational structure designed to ensure the stability and efficiency of the derivatives market. Broadly, their functioning is based on the following pillars: Legal Nature: CCPs are typically independent legal entities with their own…
Central Counterparty Entity (ECC or CCP): Concept, Types, Alternatives, and Implications for Investors
Central Counterparty Entities are institutions that act as centralized counterparties in over-the-counter (OTC) derivatives transactions. Their primary function is to mitigate counterparty risk, which is the risk that one party…
Abusive Clauses and Double Transparency Control
he Abusive Clauses. The informational asymmetry that usually occurs in contracting with the consumer is the axis on which the transparency control of the clauses that can be considered abusive…
Taxation of Collective Investment Institutions merger
For the analysis of the taxation of the merger of funds, we must differentiate repayment and reinvestment. This differentiation is key at the tax level
What is the Marketing Memorandum?
The Marketing Memorandum is an indispensable document for the cross-border distribution of investment funds. In the EU it is required before the distribution of a fund’s units in another Member…
Short Positions: what it is and how it is regulated
short positions are very common in the investment field. Opponents argue that they are harmful because they have a purely speculative purpose.
Index Dictionary (Jargon)
This Jargon Index Dictionary is a section of a financial regulatory dictionary. And it has a specific regulation.
Issuers Dictionary (Jargon)
This Jargon Dictionary of Issuers is a section of a financial regulatory dictionary. And it has a specific regulation.
MMF (Money Market Funds/Shadow Banking) Dictionary (Jargon)
This Jargon Dictionary of Money Market Funds is a section of a financial regulatory dictionary. And it has a specific regulation.
Guaranteed Bonds Dictionary (Jargon)
This Jargon Dictionary of Collateralised Bonds is a section of a financial regulatory dictionary. And it has a specific regulation.
Market Abuse Dictionary (Jargon)
This MAR Market Abuse Regulation (Jargon) Dictionary is a section of a financial regulatory dictionary.
Depositories Dictionary (Jargon)
This Jargon Dictionary of Depositories is a section of a financial regulatory dictionary. And it has a specific regulation.
Dictionary (Jargon) of Financial Regulatory
The language of the financial regulatory environment is complex and an entry barrier to understanding its regulation.
Collective Investment Institution Dictionary (Jargon)
This Jargon Dictionary of Collective Investment Institution is a section of a financial regulatory dictionary.
2020: ESMA Changes to the Compliance function
ESMA has published in June its new guidelines on the compliance function established by MiFID II. These apply to investment services firms, credit institutions, UCITS and FIAs.
How to liquidate a SICAV?
What happens when the shareholders of a SICAV decide to get rid of it and liquidate it? Let’s look at this process.
