Financial Regulatory
EMIR 3: The Three Pillars Revolutionizing Derivatives Clearing in the EU
The entry into force of EMIR 3 on December 25, 2024, marks a turning point in the regulation of centralized clearing in the European Union.
MiCA in Action: Pre-contractual Transparency Requirements for Crypto-asset Platforms Every Investor Should Know
The entry into force of the Markets in Crypto-Assets Regulation (MiCA) marks a turning point in the regulation of the European crypto ecosystem.
The Howey Test: Defining Securities in the Age of Crypto
The Howey Test, a cornerstone of U.S. securities law, determines whether an investment constitutes a "security" subject to federal regulation.
Over-the-Counter Derivatives
The Regulation on European Market Infrastructure (EMIR) sets out the rules relating to over-the-counter (OTC) derivative contracts, central counterparties (CCPs), and trade repositories, in accordance with the agreements of the…
EMIR: A Regulatory Framework for OTC Derivatives
The European Market Infrastructure Regulation (EMIR) is a cornerstone of the European Union's financial legislation, designed to enhance transparency and stability in the over-the-counter (OTC) derivatives market. This regulation, conceived…
Legal and Financial Analysis of Central Counterparty Entities (CCPs)
Last updated: 5 August 2026. Quick answer. Central Counterparty Entities (CCPs) are independent legal entities with their own legal personality, subject to intense regulatory supervision, that interpose themselves in derivatives…
The Listing Act and the Prospectus Regulation: A Potent Mix to Revitalize European Capital Markets or an Overly Diluted Formula?
The Prospectus Regulation, along with its Delegated Regulations, marked a significant advancement in the harmonization and simplification of the information regime preceding the public offering of securities.
DORA and ICT Incident Notification: A Digital Big Brother for Banking?
The entry into force of DORA (Regulation (EU) 2022/2554) has marked a turning point in the regulatory landscape of cybersecurity in the financial sector. This new legal framework, designed to…
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…
Whistleblower protection in small and medium-sized enterprises (SMEs): challenges and solutions
The recent transposition of the European Directive on whistleblower protection has brought a significant change to the compliance landscape in Spain, especially for small and medium-sized enterprises (SMEs). While whistleblower…
