The European Securities and Markets Authority (ESMA) has announced regulatory forbearance for banks and investment firms subject to the upcoming reporting obligation under the Securities Financing Transaction Regulation (SFTR). The SFTR requires all securities financing transactions (SFTs) to be reported to EU-recognized trade repositories. SFTs involve the use of securities to borrow cash or other high investment-grade securities and include repurchase transactions, securities lending and sell/buy backs. The reports must include details on the composition of collateral, whether collateral...

Read more

You have likely seen pictures of young people on spring break at the beach NOT practicing social distancing or anything remotely resembling it. You may have heard news commentators, government officials and even family members railing against the “stupidity” of these young adults. In many cases, they’re all being branded as Millennials (born 1981-1996). Let us be clear and fair: Gen Z (born 1997-2010) is on spring break right now. Millennials may be packing bars in big cities, but more...

Read more

In a national effort to curtail the spread of COVID-19, we are witnessing the rise of the remote workforce. While companies are focusing on ways to protect their employees, clients and families, cyber attackers are infiltrating insecure cybersecurity postures. CyZen’s advisors have been closely monitoring the rise in COVID-19-related cyber-attacks. Our experts have witnessed spearphishing campaigns and new forms of malware being spread through documents using the name, “coronavirus.” Knowing that largescale telecommuting is uncharted territory for many organizations, we...

Read more

The coronavirus (COVID-19) pandemic continues to have a devastating impact on human health, life and economic activity around the world. The virus has caused severe disruptions to the global economy, including the banning of travel, the cancellation of major events, and schools throughout the United States shifting to online learning. Businesses everywhere — including those of many of you reading this — are “going remote.” What happens to preexisting legal obligations in a pandemic world that nobody could have imagined?...

Read more

Temporary Ban on Net Short Positions in Response to Market Turmoil in the Wake of Covid-19 Outbreak On March 17, 2020, CONSOB, the Italian markets and securities regulator, introduced an outright temporary ban on taking or increasing net short positions in respect of all shares admitted to trading on the Mercato Telematico Azionario (MTA), the Italian regulated stock market, pursuant to the terms of EU Regulations 236/2012 and 918/2012. The list of the restricted shares is included in Annex A. The temporary...

Read more