Warning Savings protection Warning The AMF and the ACPR warn the public against the activities of several entities offering investments in Forex and in crypto-assets derivatives in France without being authorized to do so

1.1 Fri 29/10/2021 - 12:00 Reference texts article 223-1 du règlement général de l’AMF Book 1 Recommendation Closing of the 2021 financial statements and financial statements examination work Closing of the 2021…

La Cour administrative d’appel de Nancy confirme que la moins-value constatée lors de la cession de titres souscrits dans le cadre d’une recapitalisation préalable à la cession d’une filiale reste non déductible, ces titres conservant la qualification de titres de participation malgré leur revente immédiate (CAA Nancy, 15 mai 2025, n° 23NC00341)....By: Mayer Brown

On 4 June 2025, My Nest Egg Limited (MNEL) entered into Creditors’ Voluntary Liquidation. Simon Farr and Tom Bowes of FRP Advisory Trading Limited were appointed as joint liquidators. MNEL is authorised and regulated by the Financial Conduct Authority (FCA). It operated a digital platform through which customers managed their pensions and Individual Savings Accounts (ISAs).As MNEL remains authorised, it continues to be subject to the FCA’s rules and supervisory oversight. The joint liquidators are officers of the Court and must comply with all relevant insolvency laws. They are authorised to act as licensed insolvency practitioners by the Institute of Chartered Accountants in England and Wales (ICAEW) and the Insolvency Practitioners Association (IPA). We are working closely with the joint liquidators.Who to contactFor any questions, please contact the joint liquidators using the contact details below.Telephone: 0161 8335 635Email: simon.farr@frpadvisory.com

ANNOUNCEMENT BY THE FINANCIAL SERVICES AND MARKETS AUTHORITY, PUBLISHED IN APPLICATION OF ARTICLE 78 OF THE LAW OF 21 NOVEMBER 2017Trading in the financial instruments of TINC, ISIN BE0974282148 on Euronext Brussels will re-open on 18/06/2025 at 16:00 CET.

The European Banking Authority (EBA) today launched a public consultation on draft Regulatory Technical Standards (RTS) specifying the list of minimum information to be provided to the relevant competent authority at the time of the notification of the proposed acquisition of qualifying holdings in a credit institution. These RTS aim at harmonising the minimum content of the notification to the competent authority of the target credit institution with a view to supporting a harmonised prudential assessment of the proposed acquisition against the five assessment criteria set out in the Capital Requirements Directive (CRD). The consultation runs until 18 September 2025.

on 25 april 2025, the republic of cyprus published the network and information systems security (amendment) law of 2025 (the nis2 law). this amending law aligns cyprus’ national legislation with the eu nis 2 directive 2022/2555. the nis2 framework is viewed as a substantial step towards strengthening cybersecurity across the eu. this new legal framework expands the scope of covered entities and imposes more rigorous obligations regarding cybersecurity risk management and incident reporting. who is affected by the nis2 law? the nis2 law now covers a broader set of entities, categorised as "essential" or "important". this classification is generally based on a size-cap rule, including medium and large enterprises in designated critical sectors, including energy and digital infrastructure providers, public utilities, healthcare institutions and government services. however, size is irrelevant for certain key types of entities providing vital digital services, like trust service providers, cloud computing and data centres. what are the key obligations? the nis2 law imposes several crucial obligations on covered entities, designed to boost overall cyber resilience: enhanced security provisions: organisations are required to implement state-of-the-art risk management and security measures, including encryption practices, supply-chain security protocols, and robust incident response frameworks. strict incident reporting requirements: affected entities must formally report “significant cybersecurity incidents” within precise timelines, such as an initial notification within six hours and a full notification within 72 hours. supervision and enforcement: national authorities are empowered to supervise compliance through measures like information requests and inspections. penalties: to enforce compliance, the legislation introduces administrative fines for noncompliance, which can reach up to €10 million or 2 per cent of global annual turnover, for essential entities and €7 million or 1.4 per cent for important entities, whichever is higher. strengthened governance framework the nis2 law formalises governance structures, including the roles and responsibilities of national authorities tasked with cybersecurity oversight. it also establishes single points of contact for incident reporting and sets up enhanced cooperation mechanisms with eu agencies such as enisa (european union agency for cybersecurity). encouraging proactive industry measures with mandatory compliance now expanded to additional sectors, organisations across diverse industries are motivated to proactively review and improve their cybersecurity practices. the standardised guidelines foster a culture of accountability, reducing vulnerabilities across the board. next steps for organisations all entities subject to the provisions of the new law need to act swiftly to ensure compliance. key actions include: conducting a compliance audit: assess current cybersecurity measures against the law’s new requirements. enhancing risk management: implement supply chain risk assessments, encryption protocols, and incident response plans. strengthening employee training: offer regular cybersecurity training for staff and leadership teams to build preparedness. consider representation: if your entity is not established in the eu but offers services here, ensure you have designated a representative. how we can help navigating the complexities of new cybersecurity legislation can be challenging. our team is here to assist you in understanding whether your entity falls within the scope of the amended law, assessing your current compliance level, and developing or updating the necessary policies and procedures to meet the new requirements. the nis2 directive can be found here. the nis2 law can be found here (in greek).

The Central Bank of Ireland has today launched a limited edition €15 silver proof collector coin to honour the late writer, George Bernard Shaw. This year marks the 100th anniversary of George Bernard Shaw winning the Nobel Prize for literature.

The 2025 ICMA Annual General Meeting (AGM) and Conference was the 57th edition of ICMA’s flagship event which brought together its global membership and representatives from the wider financial market.This year’s event brought together nearly 1,200 delegates for a wide range of panels, keynote sessions and conversations that cover the challenges capital markets are facing today.Highlights, photos, speeches and recordings from the event, including media corner interviews, are available here.

On 12 June 2025, the Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025 were made together with an explanatory memorandum. These Regulations amend regulation 51 of the Payment Services Regulations 2017 to impose new requirements on payment service providers (PSPs) in relation to the termination of framework contracts for payment services concluded for an indefinite period and entered into on or after 28 April 2026. The new requirements include that PSPs must give 90 days’ instead of two months’ notice before the termination of a contract takes effect and the termination notice must also contain certain information including an explanation of the reasons for termination which is sufficiently detailed and specific to enable the payment service user to understand why the framework contract is being terminated. The Regulations come into force on 28 April 2026.

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.

On 4 June 2025, The Capital Buffers and Macro-prudential Measures Regulations 2025 were made together with an explanatory memorandum. These Regulations come into force on 31 July 2025. They re-state relevant provisions of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014 (the 2014 Regulations) on 31 July 2025. The 2014 Regulations are revoked by the Financial Services and Markets Act 2023 with effect from 31 July 2025. The restatement includes technical modifications to improve the effectiveness of the overall capital buffer framework. Technical modifications include: Changing the review frequency of the Countercyclical Capital Buffer (CCyB) so that it is set “at least on a quarterly basis” rather than “on a quarterly basis”, to enable the Bank of England’s Financial Policy Committee (FPC) to set the CCyB off-cycle, if needed (e.g., in response to a severe stress in the financial system). Removing the requirement for the FPC to publish a quarterly ‘buffer guide’ for the CCyB based on credit-to-GDP ratio, which should inform the setting of the CCyB rate. This is not currently used as the FPC’s judgement is that other measures of the macroeconomic risk environment are more pertinent to the CCyB rate setting. Updating the threshold at which firms are subject to the Other Systemically Important Institution (O-SII) buffer to match the Smarter Ring-Fencing Regime deposit threshold, to preserve the original policy intent of the buffer. Removing “edge case” provisions that cap the maximum combined buffer for firms that are subject to both an O-SII and Global Systemically Important Institutions buffer for simplification. These provisions have never been used and are very unlikely to ever be needed.

May 29, Chicago—NFA has ordered OANDA Corporation (OANDA), an NFA Member retail foreign exchange (forex) dealer and futures commission merchant headquartered in New York, N.Y. to pay a $600,000 fine.

Milan’s Insurance Landscape