The SEC final rules governing security-based swap activity in a cross-border context and the associated deadlines were published in the Federal Register. The compliance date for registration of SBSDs will be October 6, 2021.
The European Supervisory Authorities made final revisions to report on bilateral Margin Regulatory Technical Standards requirements in order to align with the Basel Committee and IOSCO international framework.
A group of fourteen trade associations urged the European Commission to grant an extension for the temporary equivalence for UK central counterparties until certain regulatory implementations have been made under EMIR 2.2 and until the European Securities and Markets Authority.
The SEC staff provided no-action relief to a Canadian company, allowing it to conduct a tender offer in the United States in accordance with the requirements of Canadian law and exemptions granted from those requirements.
SIFMA recommended a new approach to strengthen cross-border cooperation among regulators to "enhance the coherence of their respective regulations" and "enshrine cooperation within legally binding trade agreements."
The SEC Division of Corporation Finance determined that, for the purposes of applying Exchange Act Rules related to "Collar Contracts," an insider will be deemed to own the corporation shares underlying the operating partnership units.
A German medical device and services company agreed to settle charges of violating the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act.