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Did ESMA address the industry’s key issues in their MiFID II guidelines for transaction reporting?
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21 Oct
2016

Did ESMA address the industry’s key issues in their MiFID II guidelines for transaction reporting?

  • 21st October 2016
  • Kara Paslawska

In December 2015, ESMA published a consultation paper on transaction reporting, order record keeping and clock synchronisation.  Shortly after, we summarised the 10 key issues from the MiFID II guidelines for transaction reporting.  Now, having considered the issues raised in the responses to the consultation paper, ESMA has published its guidelines. Considering the key topics..

05 Oct
2016

Securities Financing Transactions Regulation (SFTs) – a regulation that is not only about SFTs

  • 5th October 2016
  • Kara Paslawska

There is no hiding that securities financing transactions, thanks to their role in the financial crisis of 2007-2008, do not have a good reputation.  The Financial Stability Board’s policy framework seeks to address SFTs’ complex and opaque nature through increased transparency of these products to allow clients a more accurate assessment of where to invest..

15 Jun
2016

Jurisdictions lacking the tools for shadow banking oversight

  • 15th June 2016
  • Mark Robinson

On 25 May, the Financial Stability Board (FSB) reported on jurisdictional progress in implementing their policy framework for strengthening oversight and regulation of shadow banking entities. Shadow banking emerged as a financial stability priority following the events of the financial crisis in 2008, when a number of non-bank financial entities entered into liquidation due to..

08 Dec
2015

Six years on from the financial crisis… where have we got to and where do we go from here?

Financial regulation remains as complex as ever. Complex new niches such as shadow banking, Fintech, and Over-the-Counter Derivatives, and the increasing interconnectedness of Financial Institutions (FIs) across the world, have led to greater risks to be managed for regulators. With this in mind, how they manage to get ahead of these rapid financial evolutions and..

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..

09 Sep
2015

Best execution: 10 key changes under MiFID II – part 1

  • 9th September 2015
  • Aisha Dudhia

JWG analysis. Whilst the most eye-catching changes to the MiFID regime tend to have fallen within the market infrastructure bucket, there have also been many small amendments to the investor protection area (consequently representing a significant regulatory reform). Overall, the EU has proposed additional layers of regulation to protect investors, in the hope that this..

24 Jun
2015

Regulatory reporting 2015 Part 3: Light at the end of the tunnel?

  • 24th June 2015
  • RegTechFS

Yesterday, in London, an august crowd assembled to discuss the future of technology in banking.  We were privileged to participate in a session that focused on whether there is light at the end of the ‘data dilemma’ tunnel. Our conclusion: even though it’s been nearly 6 years since the G20’s plans were put in motion,..

16 Jun
2015

Regulatory reporting 2015 Part 2: The conflict

  • 16th June 2015
  • RegTechFS

JWG analysis. Eleven of the industry’s most high-profile trade associations and ISDA this week urged regulators to adopt consistent and harmonised trade reporting requirements across jurisdictions.  However, reporting rules are already on the books and the consequences are high for firms.   In part 1 of our analysis on reporting, published last week, we explored..