Publication
Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Global | Publication | April 8, 2016
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On April 5, 2016 European Commission Delegated Regulation (EU) 2016/522 supplementing the Market Abuse Regulation (MAR) and European Commission Implementing Regulation (EU) 2016/523 were published in the Official Journal of the European Union.
The Delegated Regulation is in substantially the same form as that published in ESMA’s final report published in February 2015 containing technical advice on possible delegated acts concerning MAR. The Delegated Regulation lays down detailed rules with regard to:
The Implementing Regulation is in substantially the same form as the draft published by ESMA in September 2015 and sets out the template for notification and public disclosure of managers' transactions.
Both the Delegated Regulation and the Implementing Regulation will enter into force on April 25, 2016 and will apply from July 3, 2016.
On April 6, 2016 the European Securities and Markets Authority (ESMA) published version 24 of its questions and answers on prospectuses. These were previously updated in December 2015.
The new questions relate to additional columns in capitalisation and indebtedness statements and offers going beyond the validity of a base prospectus and include:
On April 6, 2016 Companies House published guidance for companies, unregistered companies and Societates Europaeae (SEs) on restricting the disclosure of certain information from the public register maintained at Companies House. The guidance applies to directors, people with significant control (PSCs), and advisers of companies that are entitled to apply to restrict the disclosure of their residential addresses, all of their PSC information or other specified addresses from being published (or continuing to be published) on the public register.
The guidance covers:
(Companies House, Restricting the disclosure of your information - Companies, 06.04.16)
On April 6, 2016 Companies House published guidance for limited liability partnerships (LLPs) on restricting the disclosure of certain information from the public register maintained at Companies House. The guidance applies to members, people with significant control (PSCs), and advisers of LLPs that are entitled to apply to restrict the disclosure of their residential addresses, all of their PSC information or other specified addresses from being published (or continuing to be published) on the public register.
The guidance covers:
(Companies House, Restricting the disclosure of your information - LLPs, 06.04.16)
Publication
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
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