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On your marks for the Benchmarks Regulation
Archive
03 Mar
2016
benchmark regulation, benchmarks regulation, benchmarking, esma discussion paper benchmarks, wheatley review, LIBOR, EURIBOR,

On your marks for the Benchmarks Regulation

On 15 February, ESMA released a discussion paper with the purpose of consulting stakeholder opinions on the technical implementation of the incoming Benchmarks Regulation.  This regulatory process was initiated on 18 September 2013 at an EU level when the Commission published a legislative proposal for a new regulation on benchmarks, which falls in line with Read More

15 Feb
2016

Market Abuse Regulation is fast approaching for firms and listed companies

The market abuse regulation (MAR) is fast approaching and will impact not just financial services firms, but also any EU listed company. Identified in a number of articles published here on RegTech, and discussed at JWG’s CDMG, (customer data management group), which focused on MAR/MAD changes in August last year, the regulation will involve a Read More

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 Read More

04 Feb
2016

Market abuse update – acquittals, injunctions and more change

  • 4th February 2016
  • David Miller

Over the last six months, market monitoring and market abuse have had their fair share of coverage.  The industry witnessed the conviction of Tom Hayes, for LIBOR rigging, the introduction of permanent injunctions in cases of market abuse, acquittals of six defendants accused of conspiring to rig the LIBOR and now preparation for the new Read More

18 Nov
2015

ESMA officially come out for MiFID II delay

  • 18th November 2015
  • Daniel Simpson

Yesterday, ESMA published a note – originally from 2 October – regarding the potential for a delay to MiFID II.  The note is categorical in its support of a delay to the MiFID II framework, and it will only further fuel the flames of those screaming for more time.  Below are some key highlights from Read More

12 Nov
2015

ESMA publishes a less than MAD Q&A

  • 12th November 2015
  • David Miller

JWG analysis. On 9 November 2015, ESMA published its Q&A on the implementation of the current Market Abuse Directive (MAD).  For those of you looking for some relief, this is a relatively short document, just 8 pages, and it consists of only two questions.  Question one focuses on the disclosure of inside information related to Read More

02 Oct
2015

GIIN! … LEI! … PRN?

  • 2nd October 2015
  • David Miller

JWG analysis. Over the course of the year, JWG’s Customer Data Management Group (CDMG) has covered in-depth customer due diligence and KYC requirements under global tax, reporting and anti-money laundering regulation, and market monitoring under MAR/MAD2.  For the ninth CDMG meeting, JWG took a different direction and covered fund management regulation and the regulatory interdependencies Read More

30 Sep
2015

There is nothing new under MAR RTS …

  • 30th September 2015
  • David Miller

JWG analysis. … at least, not much!  This week is a significant one for compliance and legal professionals in the financial services industry.  ESMA has finally released 1,500 pages of draft regulatory standards covering trading, market abuse and the settlement of securities. In the past few months, JWG has spent considerable time covering MiFID II, Read More

14 Sep
2015

OFGEM to wholesale energy market participants: “Be warned!”

  • 14th September 2015
  • RegTechFS

JWG analysis. The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) was introduced in 2011 to stem insider trading and market abuse in European wholesale energy markets, under the realisation that market abuse conducted anywhere within interlinked markets would have a significantly wide impact.  With this new regulation – and its corresponding fines – Read More

27 Aug
2015

STR warning

  • 27th August 2015
  • David Miller

JWG analysis. With almost a 400% increase in the number of suspicious transaction reports received by the Financial Conduct Authority (FCA) since 2007, you may assume that the monitoring and reporting procedures put in place by firms have increased in quality.  However, although this may be a logical conclusion to draw, a recent FCA newsletter Read More