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The trade and transaction reporting horizon: 10 key initiatives for 2018 and beyond
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20 Jun
2017

The quest for a transparent global financial market

  • 20th June 2017
  • Jordan Dilworth

One of the many weaknesses that the financial crisis exposed was the feeble transparency framework in financial markets.  In response, MiFID II and MiFIR built on the regulatory agenda of the G20 by aiming to strengthen the transparency framework of markets in financial instruments, including OTC trading. Building on MiFID I, the second incarnation extends..

17 Jan
2017

ESMA on commodity derivatives – Taking stock

On 19 December 2016, ESMA published its Q&A paper on the topic of commodity derivatives within MiFID II and MiFIR.  The document focuses on the promotion of supervisory approaches and practices for the application of position limits, position reporting and ancillary activity provisions.  It also provides clarity on the technicalities of the policy and the..

28 Sep
2016

Key regulatory themes for 2016

So far 2016 has been one of the most contentious years since the G20 agreed the regulatory reform agenda seven years ago. With ever-rising costs, increasingly more severe penalties, and continued issues with data quality, it would be easy to claim the plans conceived in the wake of the crisis are not going to get..

26 Aug
2016

Updates to clearing obligations under EMIR- the phase-in begins

The phase-in for central counterparty clearing (CCP) for certain Over-the-Counter (OTC) derivative contracts began in 21 June 2016 for certain contracts, with many more soon to follow, until all in-scope contracts are subject to the obligations by 9 August 2019. The European Market Infrastructure Regulation (EMIR) requires certain classes of OTC derivative contracts to be..

05 May
2016

ESMA updates RTS on position limits

On Monday the European Securities and Markets Authority (ESMA) published opinions on the Regulatory Technical Standards for position limits (RTS 21) and non-equity transparency (RTS 20) under MiFID II, in response to the Commission’s request to ESMA in April to modify the draft RTS issued in September 2015. This article will detail the updates on..

04 May
2016

BOARD MEMORANDUM: Subject: Time to put RegTech on our agenda?

Date: April 2016 Dear fellow board members, As the Financial Conduct Authority’s acting head has so rightly pointed out, sustainability is the key to pleasing our shareholders and delighting our customers with a global approach to compliance. Since taking the seat which oversees our global compliance function in 2008, I’ve watched in horror as G20..

02 Mar
2016

The RegTech marketplace: in depth analysis (Part 1 of 3)

An EY report released this week in conjunction with the UK Treasury, declared the UK to be the highest ranking FinTech sector in the world with a market size of £6.6 billion.  The authors predominantly attributed this to the UK’s accommodative regulatory regime for startups and the associated disruptive technologies they bring to market. We..