A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On 28 September 2015, ESMA published its final report and draft RTS on the admission of financial instruments to trading on regulated markets under MiFID II.
On 28 September 2015, ESMA published its final report and draft
RTS on the admission of financial instruments to trading on
regulated markets under MiFID II.
The final draft RTS covers the following issues:
the characteristics of financial
instruments for admission to trading on a regulated market, in
particular the criteria regulated markets should follow to decide
whether a transferable security is freely negotiable and capable of
being traded fairly and in an orderly and efficient manner;
arrangements to help regulated
markets ensure that issuers comply with initial, on-going and
ad-hoc disclosure obligations; and
provisions that regulated markets
must establish to facilitate access to information made public
under EU law.
The Commission has three months to approve the RTS after which,
if endorsed, the European Parliament and the Council will have a
period to object. The regulation is intended to apply from 3
January 2015.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
