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RegDelta alert no 2: Latest FIEA FAQ published
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21 Jun
2014

RegDelta alert no 2: Latest FIEA FAQ published

JWG analysis. This month the Japanese Financial Services Agency published their latest FAQ on the Financial Instruments and Exchange Act (FIEA). The current version of FIEA was approved and enacted in June 2006.  It aims to: make Japanese financial and capital markets more adaptive to environmental change; promote investor protection and improve competition; ensure that Read More

10 Jan
2014

Make not break: 2014 looks set to legitimise Bitcoin as an investment

2013 was a huge year in the development of alternate and decentralised ‘crypto-currencies’.  Some countries have so far taken relaxed stances on them, despite obvious money-laundering and tax evasion risks.  Meanwhile, others have taken the opposite approach and seen fit to ban crypto-currencies outright.  Either way, we are now beginning to see a clearer picture Read More

03 Dec
2013

Moving the goalposts: How does the CFTC’s recent announcement change the game for non-US swaps businesses?

The OTC trading space is being kept on its toes by the Commodities and Futures Trading Commission (CFTC); recent developments mean that more market participants worldwide are in scope of US derivatives rules than ever before.  In our previous piece, JWG analysed the CFTC’s rules on who is a ‘US person’ for their purposes, and Read More

18 Oct
2013

KYC: The logistics of building a reliable shared data utility

A variety of technology providers, consultancies and data providers (more than 10 of them at the last count) have announced (or have been rumoured to have formed) partnerships of some form in order to create new utilities that can share data between banks. With the huge and increasing number of regulatory requirements for customer data, Read More

11 Sep
2013

Battle of the single markets: ESMA’s approach to equivalence means further rule fragmentation

  • 11th September 2013
  • RegTechFS

As of the beginning of September, ESMA has now issued its recommendations on the equivalence of six countries’ OTC rules: the US, Australia, Hong Kong, Japan, Singapore and Switzerland.  However, only Australia and Switzerland were found to be equivalent, whereas firms and FMIs from the other four countries will have to be jump through certain Read More

17 Jul
2013

Cross asset class? Australia finalises trade reporting regime

The Australia has produced final implementing regulation that will implement their derivatives trade reporting regime. ASIC consulted on rules for trade repositories and trade reporting in March and April 2013, and expects these rules to be finalised and enter into force in July. These draft regulations include restrictions on ASIC’s rule making power in relation Read More

05 Jul
2013

FATF guidance update: New AML standards on PEPs, sanctions, and mobile payments

  • 5th July 2013
  • RegTechFS

The Financial Action Task Force (FATF) has been very busy. The outcomes of their recent plenary meeting have been released alongside a small library of guidance documents. The FATF have released guidance on how countries and the private sector should handle the money-laundering risks associated with prepaid cards, mobile payments and digital currencies. After extensive Read More

16 Nov
2012

Risk data strategy and rethink coming in 2013?

Managing, aggregating and maintaining risk data used to be a box-ticking exercise with easily achievable targets. In 2013, landmark new global requirements mean firms will face a big step up. Over the past few years, regulation in the area of risk management information (MI) was fairly basic. In 2011, the FSA, like their US cousins, Read More

11 Oct
2012

Check your SYSC benchmarks

The Office of Compliance Inspections and Examinations (SEC, FINRA, NYSE) has released an assessment of 19 firms regarding their controls to prevent misuse of material, non-public information. While not legally binding, this development is important because this is the first comprehensive statement in years regarding a regulatory view of a firms systems and controls for Read More