Overview

An update from Macfarlanes covering the following developments:

02.08.2010 - Lehman client money case
The Court of Appeal has handed down its judgement in CRC Credit Fund Limited and others v GLG Investments PLC which, broadly, concerned the manner in which client money held by Lehman Brothers International (Europe) (Lehman) should be distributed.

09.08.2010 - ECB opinion on Capital Requirements Directive 3
The European Central Bank (ECB) has published an opinion on the proposal for a Directive amending the Capital Requirements Directive as regards capital requirements for the trading book, re-securitisations, and the supervisory review of remuneration policies (known as CRD 3).

02.08.2010 - CESR consultation on pan-European access to financial information
The Committee of European Securities Regulators (CESR) has published a consultation paper as one of a number of measures which it is undertaking in an effort to harmonise and improve search capabilities for financial information disclosed by companies listed on EEA regulated markets. The Consultation Paper discusses, and invites comments on, the feasibility of requiring harmonised search facilities throughout the European network of officially appointed mechanisms for the central storage of regulated information (OAMs).

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