Regulatory prospects: 2012 and beyond

SLD (Securities Law Directive)

You will remember that the main objectives of this directive, which has now been in discussion for several years, are to facilitate crossborder investments by tackling the heterogeneity of the securities laws and the rules for the conflict of laws that apply in Europe, but also to support the harmonisation work in progress on corporate actions. This follows the example of many other harmonisation projects being conducted in the post-market area, intending to facilitate the implementation of the T2S project. At the end of the year 2010, it had been indicated that a proposal in this domain was expected in June 2011. Today a date is no longer indicated and the EC’s financial regulation programme for 2012 makes no reference to it…