RegTech Intelligence

Legislative initiative: MiFID II - Markets in Financial Instruments Directive

Dr Anthony Kirby, Chair MiFID BEWG – E&Y MiFID II will be implemented as both a regulation, “MiFIR” (with direct effect in all 28 Member States), and a directive (requiring transposition into national law). The timing of ancillary measures such as revisions to the Market Abuse Regulation (MAR/MAD II) and the Packaged Retail Investment Products

The Market Abuse Regulation (MAR) was adopted back in July.  However, the key changes have yet to show up on many people’s radars.  Whether this is because people aren’t aware of the changes, or because implementation will be largely principles-/outcomes-based, is unclear.  But there are things for firms to do now, especially ahead of MiFID

MiFID II is almost upon us.  Expect it to be the regulatory topic of conversation very soon.  So what do you need to know about it? The legislative package that we call MiFID II is actually made up of a Directive and a Regulation, which cover a broad range to trading activities, instruments and market

The new legislative package contains some surprises for those engaged in ‘risky’ trading MiFID II is almost upon us.  This month, the Council of the EU agreed their general approach, meaning that the draft of MiFID II/MiFIR is free to advance to the European Parliament.  If all goes according to the current plan, the new

The UK’s Foresight Commission report on HFT has finally heard the industry’s call for clear, shared data standards across the financial system. However, it remains to be seen whether Europe – or the world – has the stomach to realise this vision. After a series of dramatic computer trading glitches across the globe, most recently

A common roadmap for Europe?

Finally, after months of anticipation, European Commission President José-Manuel Barroso outlined his “decisive deal”: a big picture vision of an ideal, sound roadmap for Europe’s financial future. The EC proposes to create a single supervisory mechanism for banks in the euro area – starting on 1 January 2013. Under the proposals the European Central Bank

A long road from theory to policy

The industry has been waiting for the “high-level” opinions of the Liikanen Report, and its prescriptions for reform of the turbulent European banking sector.  The reforms, while suggestions rather than binding Policy (as Barnier continues to remind everyone) call for huge changes to how European banks operate. The biggest development of these is a Volcker-style

HFT: On the brink of definitive new controls?

Thanks to technological hiccup after technological hiccup, High Frequency Trading (HFT) remains a permanent fixture in the financial press. With each blip, regulators and politicians promise to regulate HFT, but how they are going to put effective controls in place is still an open question. Despite the noise, the issues with HFT remain the same.