Between 1 January 2021 and 30 October 2021*, the market capitalisation of cryptocurrencies tripled. That's when Bitcoin surpassed the famous $60,000 threshold. Unfortunately, the first eight months of 2022 wiped out this dramatic rise. The recent "incident" on the Terra Luna stablecoin, and even the difficulties of certain players in the ecosystem, have...

Since June 2022*, CSDR allowed the coexistence of different dates for the implementation of settlement disciplines (SDR). Specifically, it offered the possibility of a delayed starting date for the buy-in obligation (MBI)**. The date had yet to be set: it has now been established.

It has taken time for this subject to come to a conclusion, as the consultation conducted by the European Securities and Markets Authority (ESMA) on this major development in reporting to the Trade Repositories (TRs) ended in July 2020 and resulted in proposals for delegated acts transmitted to the European Commission (EC) in December 2020.

Following the public consultation held in February 2022 on the strengthening of liquidity management tools requirements, the Autorité des Marchés Financiers (AMF) has published an update of its doctrine to clarify its requirements on the way these tools operate in collective investment undertakings (UCIs).

A look back at AM Tech Day and the exciting and thought-provoking discussions that took place.

The MiCA draft regulation was adopted on October 10 by the European Parliament's Economic Affairs Committee (28 votes for, 1 against) after being validated on October 5 by the European Council.

The European Securities and Markets Authority (ESMA) has published its final Guidelines on certain aspects of the MiFID II suitability requirements on September 23, 2022.

Switzerland plans the launch in 2023 of a new type of alternative investment fund, the LQIF: an opportunity for private asset & alternative asset managers willing to boost distribution in this major market in Continental Europe?

In 2021, private equity investment reached a record level in Morocco, in terms of both fund raising and the growing number of companies receiving investment.

New operational systems are available to multi-expertise or specialised asset managers to cope with the growth of private markets.

A draft European Directive should be issued at the end of 2022 in order to define a common and standardised procedure within the European Union for withholding tax refunds for all Member States.

In France, the accounting of Undertakings for Collective Investment, or UCIs, is organised by a chart of accounts proposed by the Autorité des Normes Comptables (ANC) and approved by the Commission des Normes Privées. The chart of accounts for UCIs has not been properly revised since 2003, though some changes have been adopted to accommodate new products.

A Special Purpose Acquisition Company (SPAC) is a company formed to raise capital via an IPO to fund the acquisition of one or several targets in specific sectors. It is a powerful financing tool that allows investors to co-invest “publicly”, side-by-side with one or several sponsors. A SPAC has a life span of roughly 2 years. After this time, if successful...

Due to ‘’SFDR*’’ (level one effective since 10 March 2021 and level 2/RTS as from January 2023), some amendments to the Markets in Financial Instruments Directive (MiFID) II and the Insurance Distribution Directive (IDD) have been made with this Delegated Regulation 2021/1253 on new suitability assessment requirements.

At the request of the European Council, the European Central Bank (ECB) published its opinion* on the draft revision of CSDR (CSDR Refit)** on 28 July.