MiCAR: One year on

MiCAR (Markets in Crypto-Assets Regulation) began to apply as of 30^th June 2024, reshaping the European regulatory landscape regarding crypto assets. With EU Member States having until 31 December 2025 to fully apply MiCAR, , what have we learned from this first year, and how can businesses ensure that they are best equipped and prepared?

Join a panel of speakers from our Herbert Smith Freehills' Global Financial Services Regulatory team for an insightful discussion where they will share their experience and lessons learned from MiCAR implementation over the last year (including liaising with national supervising authorities inside the EU) and provide insights to help you navigate through the key aspects of MiCAR. MiCAR has been interpreted and applied by each national authority following EBA and ESMA guiding rules, and our team of professionals will share insights on submitting applications to be licenced properly and in time, as well as the application of a new regulation that it is fast changing the market.

This is a virtual session that will bring together a multi-jurisdictional panel comprising members of our Spanish, German, French, and UK offices to explore how companies can and will be affected by the new rules in the varying jurisdictions.  

This masterclass is relevant for all those that are in the process of implementing MiCAR, who have already done so in the past year or are planning to do so.

Don't miss this opportunity to stay informed and prepared for the evolving regulatory environment.

We hope that you can join us

Speakers:

Jaime Bofill

Partner, Madrid

Jaime is a partner in the Dispute Resolution practice based in our Madrid office, focussing on insurance, reinsurance, financial institutions, retail banking, payment services and the emerging areas of Fintech and Crypto.

Jaime has vast experience in the payment services sector where he has worked for domestic and international companies on aspects relating to the Payment Services Directives and their implementation in Spain, in addition to his work on money laundering and its corresponding obligations. He has also previously worked for payment services companies on international matters. He recently accumulated in the last years' experience with Blockchain matters, web3 and crypto trading, especially in licencing issues. 

Marina Reason

Partner, London

Marina is a partner in our Financial Services Regulatory practice and Group Head of the advisory (non-contentious) team in London. She is a financial regulation specialist advising a wide range of financial services clients including investment banks, broker-dealers, private and retail banks and asset managers. She has extensive expertise in the intersection between regulatory requirements and digital assets and technologies, regularly advising fintech companies and traditional financial services institutions on strategic structuring, licensing, and design and launch of new digital products including in a multi-jurisdictional context. 

She also helps clients to navigate emerging technology issues such as the metaverse, DLT and tokenisation of securities and is working with AFME on its consideration of the UK FMI sandbox. Outside of digital assets and technology, Marina has acted as strategic regulatory advisor supporting clients with regulatory change implementation, regulatory compliance and complex restructurings and transactions (including rationalisation of multijurisdictional groups).

Timo Buehler

Partner, Germany

Timo is a Partner in our Dispute Resolution practice, based in our Frankfurt office.  He advises both German and international banks, securities institutions, and payment service providers, and represents them in internal and external investigations, as well as in contentious financial regulatory proceedings. He also offers regulatory guidance to insurers and asset managers and supports them in structuring and establishing investment funds. He has significant experience in advising clients from the financial sector on mergers and acquisitions, restructurings, joint ventures, financial restructurings, and capital market transactions. 

Sonia Rogez

Of Counsel, Paris

Sonia is based in our Paris office and advises financial institutions in connection with the legislative and regulatory framework applicable to their activities and provides representation during litigation proceedings related to financial matters. 

In this context, Sonia handles issues relating to the structure of financial institutions, banking monopoly, investment services, payment services, digital finance (crypto assets, blockchain) distribution of banking and financial products and implementation of internal procedures (internal controls and compliance, fight against money laundering and financing of terrorism). 

Sonia also assists regulated entities with their financial disputes within the context of on-site investigations and disciplinary proceedings in front of the French regulators (AMF and ACPR).