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ESMA reveals supervisory plans for 2016 – part 2
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01 Mar
2016

ESMA reveals supervisory plans for 2016 – part 2

  • 1st March 2016
  • Aisha Dudhia

Continuing on from part 1, where we discussed the European regulator’s priorities for Credit Rating Agencies (CRAs) and Trade Repositories (TRs) for 2016, we now look at the nature and focus of the work the regulator plans to carry out this year to promote supervisory convergence. In October 2015, the European Securities and Markets Authority..

19 Feb
2016

ESMA reveals supervisory plans for 2016 – part 1

  • 19th February 2016
  • Aisha Dudhia

Earlier this month, the European Securities and Markets Authority (ESMA) released two key documents detailing its supervisory plans and priorities for 2016.  Whilst these publications primarily identify areas of focus for the current year, they also highlight the shortfalls in terms of promoting sound, efficient and consistent supervision across the European Union. The first, published..

10 Feb
2016

It’s official! MiFID II is delayed

  • 10th February 2016
  • Daniel Simpson

After months of rumour and speculation, The European Commission has today finally spoken out on the delay of MiFID II.  The Commission has announced a 1-year extension to the implementation, making the new deadline 3 January 2018. In justifying their decision, The Commission cites “the complex technical infrastructure that needs to be set up for..

09 Feb
2016

ESMA launches new MAR consultation as deadline draws closer

  • 9th February 2016
  • Aisha Dudhia

On 28 January 2016, ESMA published a paper consulting on a number of draft guidelines falling under a fraction of the Market Abuse Regulation (MAR).  This consultation paper was based on a previous discussion paper, issued by ESMA on 14 November 2013. In particular, the paper covers the mandates placed on ESMA to produce guidelines..

29 Jan
2016

Highlighting the legislative inconsistencies impacting cross-selling under MiFID II

  • 29th January 2016
  • Aisha Dudhia

On 22 December 2015, ESMA published 10 guidelines on cross-selling practices under MiFID II.  However, as noted in our previous article, these guidelines were not released as initially intended by the three European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA. Alongside the guidelines, ESMA put out a press release stating that “in light of..

18 Dec
2015
Brexit, Brexit and financial services, EU referendum and finance

Brexit: The City’s EU conundrum

  • 18th December 2015
  • Aoife Quinn

With 2016 just around the corner, talk surrounding the EU referendum within the financial services industry is only continuing to heat up. After the general election of May 2015, the Conservative Party promised to deliver an in-out referendum on the future of the UK in the European Union before the end of 2017. No official..

16 Dec
2015

10 key questions on the PRIIPs regulation

  • 16th December 2015
  • Aisha Dudhia

With members of the European Parliament Negotiating Team stating, in a letter addressed to Commissioner Hill, that they are “open to considering a wholesale delay of the application of MiFID II – MiFIR”, a delay to the new European market rules is now looking more likely than ever. But there are concerns that this potential..

23 Nov
2015

SFTs: out of the shadows and into the light

  • 23rd November 2015
  • Aoife Quinn

The final text for the new regulation on the reporting and transparency of securities financing transactions has been finalised after the Parliament adopted the text of the regulation at its first reading on 29 October. The Council subsequently adopted the text on 16 November and now the industry needs to prepare itself for yet another..

18 Nov
2015

RBS rewarded for changing the regulatory compliance game

  • 18th November 2015
  • Mark Robinson

Collaboration is hard, yet it’s the core of meeting every new regulatory requirement. Last week, the Royal Bank of Scotland received the prestigious ‘best use of IT for the purposes of risk/regulatory management’ award because they got the way they manage trade and transaction reporting obligations right.  Many leading technologists helped JWG’s RegDelta platform underpin..